Also as a result of this, the group turned around to a net profit of $483,000 from a loss of $3.79m in the previous corresponding period, the company said in a stock market announcement.
Overall, Samudera posted a 14% increase in revenue to $69.7m in the third quarter, compared to $61.0m in the previous corresponding quarter, mainly driven by higher revenue contribution from its container shipping business.
The bulk and tanker business remained weak however, with revenue declining 14% to $6.7m compared to $7.7m previously as the group operated a comparatively smaller tanker fleet this year.
The decline was partially mitigated however by improvements in the vessel employment days of the existing bulk and tanker fleet and charter rates of the group’s bulk carriers, Samudera said.
Commenting on the market the group said: "The excess capacity that has previously hampered industry recovery is expected to remain. In addition, consolidation among our customers, namely the main line carriers in the container shipping business is expected to change market dynamics."
Warning of a still challenging market ahead Samudera said: "With the uptrend in oil prices compounding the situation, the Group anticipates market conditions to be challenging."
It noted however that operating conditions for the bulk and tanker business are expected to continue their positive trend, particularly on the back of an improvement in the dry bulk market.
Looking ahead, Samudera said it would "continue to focus on efforts to maintain a competitive footing in regional waters" and also "work on fortifying itself for the challenges ahead,
through the optimisation of asset utilisation and operational efficiency".
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