SITC International's Revenue Jumps 39% in Q1

MT Newswires Live

04-29

SITC International's (HKG:1308) revenue rose around 39% to $760.5 million in the first quarter from $548.9 million a year prior, a Tuesday Hong Kong bourse filing said.

The marine shipping services company attributed the higher revenue mainly to an increase in average freight rate.

The firm's container shipping volume rose by 6.8% year over year in the three months to 795,387 TEUs, while average freight rate (excluding slot exchange fee income) hiked 35% to $803.5 per TEU.

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