This brings the group’s FY2022 earnings to US$322.0 million, 150.5% higher y-o-y, and a record for the group.

Revenue for the FY2022 surged by 88.0% y-o-y to US$990.6 million as revenue grew across all segments due to improvements in utilisations and rates. 2HFY2022 revenue grew by 61.8% y-o-y to US$514.4 million.

Revenue for the container shipping segment grew by 88.8% y-o-y to US$963.4 million as average freight rates for the year stood “significantly higher” than the rates in FY2021. This is as demand for shipping services outpaced supply, especially for the shipment of carrier-owned container cargo. Container volume handled grew 28.5% y-o-y to 1.9 million TEUs in FY2022.

Revenue from bulk and tanker segment increased 87.1% y-o-y to US$10.7 million in FY2022. The higher amount took into account the deployment of two additional chemical tankers that were acquired in April and November 2022.

The agency and logistics business saw revenue increase by 56.8% y-o-y to US$18.5 million in FY2022 due to an increase in agency activities, as well as contribution from a third-party logistics subsidiary in Indonesia in which the group acquired a controlling stake in May 2022.

See also: <a class='gtm_see_also_1_inread' style='text-decoration: underline;' href='/capital/results/vicplas-reports-521-lower-profit-after-tax-42-mil-fy2023?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>Vicplas reports 52.1% lower profit after tax of $4.2 mil for FY2023</a>

Gross profit surged by 142.1% y-o-y to US$355.7 million in tandem with the higher revenue and outpacing the higher cost of sales.

Earnings per share (EPS) for the FY2022 stood at 59.85 US cents.

Cash and cash equivalents as at Dec 31, 2022, stood at US$379.6 million.

See also: <a class='gtm_see_also_2_inread' style='text-decoration: underline;' href='/capital/results/isdn-posts-113-lower-revenue-438-lower-net-profit-1hfy2023?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>ISDN posts 11.3% lower revenue, 43.8% lower net profit for 1HFY2023</a>

A special dividend of 24.25 cents and a proposed final dividend of 0.75 cents has been proposed for the period. Together with the interim dividend of 7.0 cents, this brings the group’s FY2022 dividend to 32 cents, more than two times higher than FY2021’s dividend of 14 cents.

Shares in Samudera Shipping Line closed at $1.34 on Feb 27.

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