JOC Staff | Oct 24, 2012 10:15AM EDT
Singapore-listed Samudera Shipping Line saw profit after tax fall to $1.4 million in the third quarter, down 64 percent compared to a year earlier.
Group revenue for the third quarter ended 30 September was up 1 percent year-on-year to $118.4 million, although the company recorded losses from its non-core tanker and bulker businesses.
“The revenue increase reflects higher contribution from the regional container shipping and Indonesia domestic container shipping segments,” the intra-Asia line said in a statement.
Revenue from Samudera’s regional container shipping business recorded a 3 percent improvement to $87 million which the company attributed to bunker surcharges implemented from end of April to July 2012.
Total container volume handled was flat at 313,000 TEUs, compared to 317,000 TEUs in 3Q11, while operational costs for its liner business increased 5 percent “mainly due to additional vessels deployment and higher bunker costs,” the company said.
