SSL looks to expand Asian feeder network
Singapore operator is back in the black and in bullish mood
Samudera Shipping Line (SSL) is looking to expand its feeder network in Asia, as higher volumes and limited shipping capacity create more opportunities for niche operators.
The Singapore-based operator increased revenue by 9.9% year-on-year in the second quarter.
The company returned to the black after three quarters of losses, with a net profit of US$600,000 as container volumes increased by almost 11% on a year earlier.
A statement said: “The group’s 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 container ships in the industry.”
CEO David Batubara said SSL would now look to expand its service coverage and strengthen its regional presence.
“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,” he added.
The Singapore-based operator increased revenue by 9.9% year-on-year in the second quarter.
The company returned to the black after three quarters of losses, with a net profit of US$600,000 as container volumes increased by almost 11% on a year earlier.
A statement said: “The group’s 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 container ships in the industry.”
CEO David Batubara said SSL would now look to expand its service coverage and strengthen its regional presence.
“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,” he added.
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