Net profit in the quarter ended 30 June 2014 rose to $4.21m as against a loss of $3.63m in the corresponding period of 2013.
Revenue, however, dipped 7.6% year-on-year to $96.89m due to the group’s rationalisation of its services and disposal of underperforming vessels.
Singapore-listed Samudera Shipping added that it has operated fewer vessels in Indonesia, renewed charter hire at lower rates and spent less on bunker fuel.
“The group expects operating conditions for container shipping to remain challenging in view of strong competition,” the shipowner said.
“In the non-container shipping segment, it will continue to optimise fleet utilisation including divesting non-performing vessels,” it said.
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