The Singapore-listed Indonesian shipowner noted in its full year financial results that freight rates for the regional boxshipping sector were likely to remain under pressure in 2013 due the oversupply of vessels.
However, one bright spot is its Indonesian business, which it is looking to continue to expand in. “In the Indonesia domestic container shipping segment, growth in the Indonesian economy should continue to drive shipping activity,” Samudera said. “In the year ahead, the group will look for new ways to further grow this segment by increasing its fleet and exploring the addition of profitable routes.”
In 2012 the volume of containers handled by Samudera in Indonesia grew by 10.1% to 168,000 teu, compared to 152,000 teu in the previous year. Revenues from its Indonesian domestic business were up 9% at $62.8m last year compared to $57.6m in 2011.
For its business as whole in 2012 Samudera reported a net profit of $4.63m, a 63.2% drop over a $12.6m profit in 2011. Revenues in 2012 were up 3% at $467.7m.
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