SSC profits up on enlarged fleet

Singapore Shipping Corporation (SSC) ended its financial year with healthy gains in revenue and net profit. The Singapore-listed firm saw its full year net profit soared 76.9% to $5.6m compared to $3.2m the previous year. Revenue surged to $15.7m in the year ended 31 March 2011, almost doubled from $8m seen in the previous year. 


SSC stated that it is encouraged by its sound financial position and strong cashflow to continue acquiring more vessels to be placed on medium to long term charters. The company had purchased two pure car truck carriers in the financial year of 2011 and the vessels have been placed on 15-year charters.
(Source:http://www.seatrade-asia.com)