SITC sees profit grow in first half of 2017

Features liner

Hong Kong-listed feeder containership carried more containers, but at slightly lower rates.

SITC
International
has
seen
a
20%
increase
in
first
half
profit
in
a
further
sign
of
the
improvement
in
the
containership
industry.

The
Hong
Kong-listed
feedership
operator
has
just
reported
net
income
of
$85.8m
against
the
$71.3m
seen
in
the
first
half
of
2016.

The
Yang
Shaopeng-led
company
said
revenue
increased
by
6.8%
to
$645.6m,
while
costs
increased
by
6.3%
to
$531.8m.

SITC
said
container
volumes
increased
by
15%
to
1.25mteu.
However,
the
average
freight
rate
fell

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Dale Wainwright