SITC International, the parent of Hong Kong-based intra-Asia carrier SITC Container Lines, has seen its 2021 net profit surge by 230% year-on-year to US$1.17 billion, as liner operators achieved a second straight year of record earnings.
Revenue generated by the container shipping and logistics business was up 79% to US$2.98 billion.
The increase was a result of container shipping volumes increasing by 20% to 3.14 million TEU in 2021, while freight rates, excluding slot exchange fee income,...
https://container-news.com/sitc-profit-rockets-230-exceeding-us1-billion/