Samudera Shipping Line 1H26 revenue at US$320.3 m, profit at US$33.2 m on higher container liftings

SGX Filings
07/29

Samudera Shipping Line reported a net profit of US$33.2 million for the six months ended Jun 30, down 20.5 per cent year-on-year, as rising operating costs outpaced revenue growth.

Revenue increased 12.2 per cent year-on-year to US$320.3 million, supported by higher container volumes and improved freight rates. Earnings per share slipped to 6.19 US cents from 7.77 US cents a year earlier. The board declared a tax-exempt interim dividend of 1.35 Singapore cents per share, payable on Aug 21, compared with 1.50 Singapore cents in the prior-year period. The books close on Aug 13.

By segment, container shipping remained the main contributor, generating revenue of US$297.3 million, up 13.5 per cent YoY, and pre-tax earnings of US$34.7 million. The company handled 1,007,000 TEUs, versus 990,000 TEUs a year ago, aided by new Singapore–Manila and Korea–Japan shuttle services and additional charter-out arrangements.

Bulk and tanker revenue fell 9.7 per cent to US$13.2 million and posted a marginal pre-tax profit of US$0.1 million, as lower vessel employment days and higher operating costs weighed on performance. Logistics revenue grew 8.5 per cent to US$9.8 million, delivering pre-tax profit of US$0.3 million on increased fourth-party logistics activities in Indonesia.

Group cost of sales climbed 16.7 per cent to US$271.7 million, reflecting higher bunker and charter-hire expenses. Finance costs rose to US$10.8 million from US$8.2 million, mainly on additional lease liabilities for chartered-in vessels. Other operating income expanded 41.2 per cent to US$3.5 million, helped by a US$2.7 million gain on the disposal of a tanker and aged containers.

Looking ahead, the company said geopolitical developments, shifting trade patterns and energy-price volatility may influence freight markets and costs, but underlying demand for regional connectivity is expected to remain resilient. Management plans to grow the container network selectively, balance fleet deployment between own services and commercial arrangements, and pursue logistics expansion while maintaining prudent capital allocation. Market conditions for smaller chemical and gas tankers are expected to stay challenging, and the group will continue to optimise that fleet in line with prevailing demand.

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