Indonesian domestic business helped boost Samudera Shipping Line’s profits in 2011, Seatrade Asia online reports. Singapore-listed Samudera reported a net profit of $12.6m in 2011 up 33.8% from the previous year. “The group’s profit growth was mainly contributed by the Indonesia domestic container shipping business which expanded its capacity through the addition of three new vessels,” the company said.
While Samudera enjoyed a good year in 2011 the company is concerned about the outlook due to overcapacity in the global container shipping market. “We foresee a number of challenges in front of us in 2012, as a result of the oversupply situation in the regionalcontainer shipping business, continued pressure on freight rates and the hike in bunker prices,” said David Batubera, ceo of Samudera.
While Samudera enjoyed a good year in 2011 the company is concerned about the outlook due to overcapacity in the global container shipping market. “We foresee a number of challenges in front of us in 2012, as a result of the oversupply situation in the regionalcontainer shipping business, continued pressure on freight rates and the hike in bunker prices,” said David Batubera, ceo of Samudera.