The Chinese container line SITC has benefitted from wider disruption in the market as is shown in its latest financial figures, according to Seatrade Maritime.
SITC has posted approximately $2.11 billion in revenues for the nine months of this year, an increase of 19.2% year-on-year.
For the nine months ended 30 September 2024, SITC’s container shipping volume amounted to 2.55 million TEU, representing an increase of approximately 11.1% as compared to 2.29 million TEU for the corresponding period in 2023.
The group’s average freight rate for the first nine months was $691 per TEU, representing an increase of approximately 9.1% year-on-year.
Focused on container shipping and logistics business in Asia, SITC provides nearly 80 trading services and operates a fleet of over 110 vessels. The company is planning to further expand its fleet capacity and build more small-size container ships.