Samudra Group News

Samudra Containership Rationalisation Hits Revenues

Diversified Singapore-based containership owners Samudra Group reports registered revenue of USD 96.9 million for the second quarter ended 30 June 2014, a 7.6% decline from USD 104.8 million in the previous corresponding quarter, which they say is in line with the Group’s rationalisation of its services and disposal of underperforming vessels. Revenue for the container shipping business fell 7.3% to USD82.0 million in 2Q14, from USD88.4 million in 2Q13 as a result of rationalization of services on Indonesia domestic routes. Container volume handled increased by 6.5% to 342,400 TEUs in 2Q14, compared to 321,500 TEUs in 2Q13 due to improvement in the regional routes.