SAC Capital analyst Tracy Lim sees Samudera Shipping Line (SSL) as currently having “some pricing power”. The company will also be riding the wave of higher freight rates, which boosted its revenue for the 1HFY2021 ended June by 19.6% y-o-y to $209.1 million.

During the half-year period, SSL also reported higher net cash of US$80.9 million ($109.4 million) as at June 30, from US$51.3 million as at Dec 31, 2020. This was due to the sale of some of SSL’s vessels and higher profitability in the 1HFY2021.

In an unrated report, Lim expects that the cash will be used to purchasing more vessels when prices drop.

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