Samudera Shipping Line's Q3 profit drops almost 77% amid industry headwinds

SAMUDERA Shipping Line reported a near 77 per cent drop year on year in net profit to US$1.23 million for the third quarter ended Sept 30.

Revenue slid 14.8 per cent to US$75.16 million on the back of lower contributions from both its container shipping and bulk & tanker business segments as the overall market suffered a decline.

Earnings per share clocked 0.23 US cent, down from 0.97 cent a year ago.

The group warned that it expects operating challenges to prevail in the container and bulk & tanker sectors in the coming months.