SINGAPORE-listed Samudera Shipping Line, a subsidiary of
Indonesia-based Samudera Group, has reported a decline in net profits of US$4.6
million in 2012, against slight revenue growth due from local container
movement and better fleet utilisation.
Samudera's container shipping business increased revenue
by five per cent to $335.2 million in 2012 despite a three per cent decline in
volume to 1.2 million TEU. This was attributed to recovery of bunker costs from
surcharges.
Local container volume grew 10 per cent to 168,000 TEU
due to a recent tightening of cabotage laws that restrict foreign ships in the
coastal market, creating a revenue increase of nine per cent to $62 million.
The carrier hopes to further explore the domestic market
by increasing fleet and redeploying capacity from "underperforming sectors
to capitalise on growth opportunities in Indonesia".
The regional container line serves Middle East, the
Indian subcontinent, south east Asia, Indo-China and the Far East.
Source : HKSG.
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