Samudera profit drops to $42.6m in H1 on higher operating costs
This comes even as its rebenued climbed 12.2% to $410.0m.
SGX-listed Samudera Shipping Line reported a 20.4% decline in net profit for the first half (H1) of 2026 as higher operating costs weighed on earnings despite revenue growth from its container shipping and logistics businesses.
Net profit excluding non-controlling interests fell to $42.6m (US$33.3m) from $53.5m (US$41.8m) a year earlier, whilst earnings before interest, tax, depreciation and amortisation declined 8.2% to $58.8m (US$45.9m).
Earnings per share fell 20.4% to 7.8 Singapore cents (6.2 US cents).
Revenue increased 12.2% to $410.0m (US$320.3m) from $365.4m (US$285.5m) in H1 2025, driven by higher contributions from the container shipping and logistics segments.
Container shipping performance improved as volume and average revenue per twenty-foot equivalent units (TEU) increased.
Container volume reached 1.007 million TEU in H1 2026, compared with 990,000 TEU in the same period last year, whilst average revenue per TEU increased to $349 (US$273) from $320 (US$250).
The company said operating margins were affected by higher operating costs, including stevedoring, bunker, and charter hire expenses.
The logistics business recorded higher activity, with storage occupancy rising to 178,700 pallet positions from 145,000.
Volume handled increased to 1.59 million pallet equivalent from 1.10 million, supported by growth in its fourth-party logistics business.
In the bulk and tanker segment, employment days declined to 1,189 from 1,293 due to vessel downtime, affecting revenue and operating margins.
The company also sold two chemical tankers in June 2026, with one transaction completed and the other expected to complete in the third quarter.
Total debt increased to $446.2m (US$348.6m) from $431.9m (US$337.4m) after the acquisition of container vessels. Gearing rose to 0.56 times from 0.54 times.
The company declared an interim dividend of $1.35 cents (1.05 US cents) per share.
(US$1 = SG$1.28)
