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SITC posts a 79.6% first half revenue growth

China’s shipping logistics company SITC reported approximately $1,334m revenue for the first half of 2021, an increase of 79.6% year on year.

During the first six months, the groups major container shipping and logistics business continued to provide container transportation and integrated logistics services that focus exclusively on the Asia market as the company believes that the Asia trade market will continue to experience healthy growth, said SITC.

SITC operated a fleet of 95 vessels with a total capacity of 142,085 teu as the end of June, comprised of 66 self-owned and 29 chartered vessels, with an average age of 11.5 years. 

The groups dry bulk and other business covers the provision of dry bulk vessel leasing and land leasing services, operating a fleet of six dry bulk vessels with a total tonnage of 439,039 tons and an average age of 8.7 years. 

SITCs gross profit for the six months ended 30 June 2021 surged by approximately 251.5% comparing to the same period of 2020.