Congestion at ports around the world, along with the resulting network and supply chain disruptions and capacity shortage, is expected to persist throughout most of 2022. This will continue to exert upward pressure on freight rates amid the ongoing pandemic, Samudera says in a statement. Demand for shipping services should remain robust amid with the gradual reopening of economies globally, it adds.
Samudera Shipping Line had a banner year in 2021. Revenue rose 51.5% in FY2021 to US$527 million, with 2H2021’s revenue up 83.7% y-o-y to US$317.9 million. Revenue from the container shipping segment grew 53.7% to US$510.3 million in 2021, underpinned by rising freight rates as demand for shipping services outpaced capacity supply, especially for the shipments of carrier-owned container cargo.
Container volume handled increased 16% y-o-y in 2021, to 1,495,000 TEUs. Revenue from the bulk and tanker segment decreased 16.1% to US$5.7 million in FY2021. This is despite some vessels in dry-dock for repair and maintenance. Cost of services rose at a slower pace, by 19.4% y-o-y, as a results of Samudera’s cost management effort. Gross profit jumped 396.4% y-o-y to US$146.9 million in FY2021 while Patmi rose manifold to US$128.6 million, compared to just US$7.2 million in 2020.
