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Singapore Shipping Corp profit shrinks 11pc to US$8.5m on lower volume
SINGAPORE Shipping Corporation (SSC) saw its annual earnings for the financial year ended March 31, 2017 shrink by 10.8 per cent year on year to US$8.55 million, on revenue of $43.46 million, down 3.3 per cent.
The Singapore-listed group was cited by Seatrade Maritime News of Colchester as saying in a statement: "Owing to the current depressed shipping industry in general, agency and logistics business continues to face rates and cargo volume challenges."
"Barring unforeseen circumstances, the group expects its overall performance in financial year 2018 to be profitable," SSC added.
The Singapore-listed group was cited by Seatrade Maritime News of Colchester as saying in a statement: "Owing to the current depressed shipping industry in general, agency and logistics business continues to face rates and cargo volume challenges."
"Barring unforeseen circumstances, the group expects its overall performance in financial year 2018 to be profitable," SSC added.
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