Samudera Shipping Line first half profit up 78%

Samudera Shipping Line has posted a 78 percent increase in net profit to US$15.8 million, or 2.87 cents per share, for the six months ended 30 June.

In the previous corresponding period in 2007 the company registered $8.9 million, or 1.64 cents per share.

The group's revenue increased to $217.4 million, a 19.5 percent increase on last year's first-half revenue of $181.9 million.

The company's executive director cited strong cargo volumes coupled with good control of operating costs as a central factor in the increase.

Higher bunkers prices and charter hire rates drove the cost of services up 20 percent in the first half of this year.

Source: http://www.cargonewsasia.com