Samudera Shipping warns of full year lossSamudera Shipping warns of full year loss

Singapore-listed Samudera Shipping is expecting a loss after tax for its financial year ended 31 December 2013 based on a preliminary review of the unaudited financial results.

“The loss was due mainly to lower shipping rates as a result of oversupply of vessel capacity in all segments of the company's businesses,” the regional container carrier said.

The group will release its full year results from 25 February.

In the third quarter of last year, Samudera Shipping recorded a loss of $239,000 as against a profit of $1.26m in the same period of the previous year.