SITC’s revenue up 19.2% in the first three quarters

SITC has posted approximately $2.11 billion in revenues for the nine months of this year, an increase of 19.2% year-on-year.

For the nine months ended 30 September 2024, SITC’s container shipping volume amounted to 2.55 million teu, representing an increase of approximately 11.1% as compared to 2.29 million teu for the corresponding period in 2023. 

The group’s average freight rate for the first nine months was $691 per teu, representing an increase of approximately 9.1% year-on-year.

Focused on container shipping and logistics business in Asia, SITC provides nearly 80 trading services and operates a fleet of over 110 vessels. The company is planning to further expand its fleet capacity and build more small-size container ships.