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Samudera back in the black

Samudera back in the black

Singapore: Samudera Shipping Line is back in the black with a marginal profit in the second quarter. The regional feeder and intra-Asian container line reported a $600,000 profit in the second quarter of 2010 after three consecutive quarters of losses. Revenues in the second quarter were up 9.9% year-on-year at $90m. The company said this was largely due to better vessel utilization for the container shipping business and a 10.9% year-on-year increase in container volume handled. "Our ability to respond quickly and nimbly to market conditions, along with a gradual improvement in global trade activity, enabled us to post a turnaround in net profit," said David Batubara executive director and ceo of Samudera. He added the company was looking to expand its regional presence and services. [29/07/10]

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