Samudera Reports Indonesia Route Revenues Rise Q3 2012

Press Release
Wednesday, October 24, 2012

Samudra's revenue for the third quarter ended 30, September 2012 increased 1% compared to the same quarter last year.

Samudera is a regional shipping line serving the Middle East and the Indian Sub-continent in the west, South East Asia and Indo-China at the center and the Far East to the north. This extensive network of services is run from its headquarters in Singapore,

The revenue increase reflects higher contribution from the regional container shipping and Indonesia domestic container shipping segments, despite a drop in revenue for the bulk and tanker business. 


Revenue from the regional container shipping business recorded a 3% improvement to US$87.0 million, on the back of bunker surcharges collection which was implemented from end of April to July 2012. Total container volume handled for this segment was relatively flat at 313,000 TEUs, compared to 317,000 TEUs in 3Q11.

The Indonesia domestic container shipping business recorded a 9% increase in revenue to US$15.5 million as total container volume handled rose 12% to 41,000 TEUs, from 36,000 TEUs in 3Q11. 
However, revenue from the bulk and tanker business on the other hand, fell 14%, from US$17.2 million in 3Q11 to US$14.9 million in 3Q12 as a result of a drop in charter rates in the market and fleet reduction following the disposal of three bulk carriers between June and July 2012. 


Outlook:
Industry outlook remains cloudy for the rest of 2012, as sluggishness in the world’s major economies continue to hamper the recovery of global trade activity. 
The Group’s Indonesia domestic container shipping segment should continue to experience healthy demand, in view of a resilient Indonesian economy. On the flip side, it will continue to face the challenges of port congestion and the change in fuel price policy as implemented in the country.

Despite the softening of charter hire rates which is likely to put a cap on its profit level, the Group's bulk and tanker business should continue to contribute positively to its performance as its fleet is fully employed. In

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Costa Concordia Captain's Sentence Upheld

The prison sentence against the former captain of the Costa Concordia cruise liner for his role in the deadly 2012 shipwreck was upheld on Tuesday by an Italian court.

Partners Target Improved Maritime Efficiency

On May 25, 2016, The University of the West Indies Arthur Lok Jack Graduate School of Business (UWI-ALJGSB) together with the Trinidad and Tobago Shipbuilding &

MSHS Group President Recognized for Safety Leadership

Signal Mutual Indemnity Association, a self-insured group provider of Longshore benefits, presented MSHS President Are Friesecke with the Francis R. Sharp Executive

Finance

Baltic Index Up On Higher Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday helped by an increase in demand for capesize vessels.

Mothballed Vessels SE Asia Reflect Oil Slump Pain

Around 1,300 offshore support vessels lying idle worldwide. Not everyone in shipping is bemoaning the industry's worst crisis in living memory: a cluster of

Asian Traders Unload Floating Gasoline as Market Flips

Gasoline shifted from tankers to landed storage or sold off; forward gasoline prices to flip to backwardation from July. The number of tankers storing gasoline

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0829 sec (12 req/sec)