Singapore container shipping line, Samudera Shipping Line Ltd, has posted profit after tax of US$7.5 million for the three months ended 30 June 2012 (2Q12), the carrier's press release said.
This was mainly driven by increase in container volume handled, the implementation of bunker surcharges in the regional container shipping segment during the quarter and gain from disposal of assets. During the period, the Group sold some container boxes and two vessels with a total gain of US$4.4 million.
Group revenue grew 11% to US$129.5 million, from US$116.6 million in 2Q11, mainly due to a 7.6% increase in overall container volume handled to 386,300 TEUs as a result of additional services introduced during the period, as well as additional revenue arising from bunker surcharges.
The Group also commenced a ship management and operation service for its bulk and tanker business in the current year, which helped to improve the profitability of the segment.
David Batubara, CEO of Samudera Shipping Line, said, “We are encouraged to have turned in a positive set of results for the second quarter amid the challenging industry climate, and are particularly pleased with the improvement seen in our container shipping business.”
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