SAMUDERA Shipping Line's net profit fell 21.5 per cent to US$8.3 million in 2018, dragged down by higher costs of sales and expenses despite better revenue.
Revenue rose 9.8 per cent to US$422.3 million during the year due to higher contributions from the container shipping segment. Container volume handled rose 13.7 per cent to 1.47 million 20-foot equivalent units during the year, which raised container shipping revenue by 11.2 per cent to US$390.9 million. Bulk and tanker revenue, however, shrank 17.8 per cent to US$22.1 million as a result of a smaller tanker fleet.
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