Q3 profit falls at Singapore Shipping Corp.

Singapore Shipping Corporation (SSC) posted a drop in third quarter net profit as revenue inched up. The Singapore-listed company registered profit of $1.58m in the quarter ended 31 December 2012, a 12.6% decrease compared to $1.81m in the same period of 2011.
Revenue at SSC rose slightly by 0.9% year-on-year to $5.03m.
“The group's business model of being a tonnage supplier to blue chip operators on long-term charters has effectively sheltered us from the negative effects of the globally depressed shipping industry and the on-going financial volatility,” said Singapore-listed SSC.
“We will maintain this successful strategy while looking to increase the fleet when there are attractive opportunities.”
Source: Seatrade-Asia