Revenue from the container shipping business declined 17.2% to US$52.1 million on the back of prevailing pressure on freight rates and a 2.1% decrease in volume handled to 273,000 TEUs largely due to the loss of volume from Hanjin Shipping Co.
Revenue from the bulk & tanker business declined 29.3% to US$7.7 million as the group operated a smaller fleet in 3Q following its disposal of four tankers since December 2015. The dry-docking of a tanker and lower charter-out rates also affected revenue.
Shares of Samudera last closed at 18 cents.
