Samudera Shipping Line recorded a 154.4% jump in second-quarter net profit over the previous corresponding period on growth in the Asian container shipping segment, Seatrade Asia online reports.
Net profit soared to $1.63m in the quarter compared to $642,000 in the same quarter of last year. Revenue also improved 29.6% to $116.6m.
Samudera saw improvements in revenue in particular from the regional container shipping segment and Indonesia's domestic container shipping.
The Singapore-listed firm said the shipping industry continues to face persistently high bunker prices and oversupply of ship capacity in the market.
Samudera will continue to implement bunker recovery surcharges to mitigate some of the cost pressures.
Net profit soared to $1.63m in the quarter compared to $642,000 in the same quarter of last year. Revenue also improved 29.6% to $116.6m.
Samudera saw improvements in revenue in particular from the regional container shipping segment and Indonesia's domestic container shipping.
The Singapore-listed firm said the shipping industry continues to face persistently high bunker prices and oversupply of ship capacity in the market.
Samudera will continue to implement bunker recovery surcharges to mitigate some of the cost pressures.