SITC International Holdings has posted stronger results for 2018 but warned of downside risks this year due to macroeconomic weakness.
The Hong Kong-listed container line, which focuses on intra-Asian trade, posted a 7.5% year-on-year gain in revenues to $1.45bn last year on higher freight rates and shipping volume.
Net profits increased to $198m in 2018 from $187m in 2017.
Despite higher bunker costs, the company was able to achieve better results “through effective management of shipping capacity”, according to its annual report.
