SITC quarterly revenue rises to US$360m

Business | 23 Apr 2019 12:15 pm

Chinese shipping conglomerate SITC International Holdings (1308) reported today total revenue for the first quarter grew by 11.6 percent year-on-year to US$360.8 million.

Revenue generated by container shipping and logistics business climbed by 11.5 percent year-on-year to US$354.5 million.

And revenue generated by dry bulk and others business increased by 12.7 percent year-on-year to US$6.2 million.

SITC shipped 563,357 twenty-foot equivalent units (TEU), up by 8 percent from the same period in 2018, while average freight rate excluding slot exchange fee income increased by 2.9 percent to US$551.5 per TEU.

At noon, shares of SITC slid by 3.83 percent, or 34 HK cents, to HK$8.53.

 

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