SINGAPORE's Samudera Shipping Line (SSL) said it plans to expand its feeder network in Asia as it announced a return to profit in second quarter and a 9.9 per cent year on year revenue increase.
"Our ability to respond quickly and nimbly to market conditions, along with a gradual improvement in global trade activity, enabled us to post a turnaround in net profit," said SSL chief executive David Batubarahe.
Mr Batubarahe said the company would now look to expand its service coverage and strengthen its regional presence.
The company returned to profit after three quarters of losses, with a net profit of US$600,000 as container volumes rose nearly 11 per cent year on year.
"The container shipping business has seen an improvement on the back of a recovery in global trade and various measures by the global operators to reduce the supply of containerships in the industry," said a statement from the company.
Source : HKSG, 04.08.10.
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