- SITC forecasts a profit of $1-1.03 billion for 2024, an 87-92% growth year-on-year.
- Container volumes are projected to rise by 10.6%, reaching 3.56 million TEUs.
- The average freight rate is up by 15.75%, now at $721 per TEU.
Hong Kong-based SITC has issued an optimistic profit alert for 2024, highlighting strong financial and operational growth based on preliminary figures, reports Container News.
Impressive Profit Growth
SITC anticipates an unaudited profit of $1-1.03 billion for 2024, marking a substantial 87-92% year-on-year increase, a testament to the company’s robust performance.
Rising Container Volumes
The ocean carrier projects container volumes to hit 3.56 million TEUs in 2024, a 10.6% rise compared to the previous year.
It reflects strong demand and efficient operations.
Higher Freight Rates Boost Revenue
SITC’s average freight rate has risen by 15.75% to $721 per TEU, contributing significantly to its profitability and signaling sustained growth in the shipping industry.
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Source: Container News
