Lower revenue from all operating segments has brought a 41% decline to Samudera Shippine Line’s net profit in the second quarter.
The Singapore-listed owner booked after-tax profit of $1.9m, compared to $3.2m a year earlier.
Its quarterly revenue stood at $66.3m against $81.3m due to the company’s smaller fleet.
Samudera has disposed of a few ships since late 2015 and along with the drydocking of two supramaxes between March and June, its bulk and tanker business posted revenue of $8.1m, compared to $11.5m.
On the container side, the company's container volumes increased 6.4% to 298,000 teu but revenue from this segment was down by 16.8% to $68.4m due to low freight rates.
The company expects its tanker business to remain relatively stable but it foresees challenging times with regards to its bulk carrier operations.
It added that it is monitoring the market for the right time to make further disposals.
