Lower bunker costs help SITC to 11% rise in first-half profits
The intra-Asia feeder’s revenue from container operations was almost flat, while pre-tax profits rose sharply and margins also increased as costs fell
Although profits and margins have been good in the first half of the year, many of the gains have come from lower bunker costs, which raises questions as to how sustainable the good performance will be going forward, as economies recover and energy demand rises with oil prices going up in line. Notably, SITC saw lower average freight rates, unlike many of its peers
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