SITC is confident about the outlook intra-Asia boxshipping in 2012 and is looking to expand its fleet. Hong Kong-listed SITC reported a 20.8% jump in revenues to $839.6m for its sea freight in 2011 compared to year earlier.
“The management of the group remains confident about the business environment for container shipping logistics within intra-Asia market in the year 2012,” the company said. STIC said it would continue to expand its intra-Asia service network that covered 51 trade lanes at the end of 2011.
SITC is also looking to take advantage of lower vessels prices to expand its fleet. “We will continue to expand our self-owned fleet by taking advantage of windows of attractive vessel prices, so as to keep pace with the development of our business and secure a long-term competitive cost position,” it said.