Samudera Shipping Line reports strong 1Half 2025 Net Profit
SINGAPORE : Samudera Shipping Line reported a two-fold increase in net profit to USD41.8 million, from USD20.9 million in 1H2024. This came on the back of a 28.0% year-on-year increase in Group revenue to USD285.5 million for 1H2025, driven by increased business activity and container freight rate improvements.
The Container segment saw revenue rise 29.3% to USD261.9 million, on the back of higher volumes handled, new services and ad-hoc vessel charters. The Bulk & Tanker segment and Logistics segment also posted double-digit revenue growth, driven by addition of two ethylene gas vessels and higher logistics business activity, respectively.
The Group has declared a tax-exempt interim dividend of 1.5 Singapore cents per share for 1H2025 (1H2024: 1.0 Singapore cent per share).
Group revenue rose 28.0% to USD285.5 million in 1H2025, from USD223.0 million in 1H2024. This was mainly driven by increased business activity and container freight rate improvements. The Container segment delivered a 29.3% rise in revenue to USD261.9 million, from USD202.5 million in 1H2024. Container volume handled in 1H2025 rose to 990,000 TEUs, compared to 879,000 TEUs in 1H2024 due to higher volume in existing services as well as taking into account the introduction of two new services in the Middle Eastern region at end of 2024. This revenue growth was also supported by higher freight rates and an ad-hoc chartering out of vessels in this segment.
Revenue from the Bulk & Tanker segment grew 15.4% to USD14.7 million from USD12.7 million in 1H2024 due to the increase in employment days in 1H2025 compared to 1H2024, arising from the addition of two ethylene gas vessels to the fleet in 1H 2024. The Logistics segment recorded a 15.6% increase in revenue to USD9.1 million, from USD7.8 million in 1H2024. This was mainly due to an increase in fourth-party logistics business in Indonesia. Cost of services amounted to USD232.8 million, 19.7% higher than USD194.5 million in 1H2024. This was largely in line with the increase in operating activities. Gross profit for 1H2025 thus rose 85.4% to USD52.7 million in 1H2025, compared to USD28.4 million in 1H2024.
In the Bulk and Tanker segment, the gross profit was adversely affected due to technical challenges for certain vessels. Marketing & administrative expenses rose 21.5% to USD11.8 million, from USD9.7 million a year ago due to additional staff and higher salaries to cope with growing business and general increase in the overhead cost.