Samudera Shipping has reported earnings of US$171.7 million for 1HFY2022 ended June, up 367.7% y-o-y.
Revenue in the same period was up 127.8% y-o-y to US$476.2 million, thanks to both higher container volume handled and higher rates.
Specifically, container volume was up 27.1% y-o-y to 957,000 TEUs.
The company plans to pay an interim dividend of 7 cents per share, versus just 0.5 cents this time last year.
Going forward, Samudera expects freight rates to be maintained at a higher level than before the pandemic, as container vessel supply won’t catch up with demand that quickly.
However, the company warns of the potential softening of container trade growth because of global uncertainties that have led to higher inflation and interest rates.
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Samudera Shipping closed at $1.02 on July 27, down 1.92% for the day but up 78.95% year to date.
