The Singapore-listed regional container line reported a net loss of $3.8m in the first quarter compared to $152,000 profit in the same period last year. Samudera was hit by higher operating costs, mainly due to the bunker price, with cost of services increasing 11% to $109.2m.
The company’s domestic Indonesia business suffered due to the removal of a fuel subsidy in February this year and reported a gross profit of $1m for the first quarter compared to $2.7m a year earlier.
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