SSC set for boost

Singapore Shipping Corp is projecting better times ahead after a slip in first quarter profit.

The SGX-quoted owner saw its bottom line dip by 7.5% to SGD 1.81m in what is the first three months of the company’s 2015 financial year.

SSC says the performance is in line with its guidance at the beginning of fiscal 2015 with the “credible” showing aided by its agency and logistics business.

With two new ships set to join the fleet in August and November this year, the shipowning division of the company is projected to perform better.

The ships are attached to contracts worth $188m, SSC’s quarterly report said.

It added: “The group continues to identify opportunities to expand and build up a younger fleet with quality long-term charters.”