SITC International Holdings Co has reported a weaker full-year profit for 2016 on the back of softer freight rates.
The Hong Kong-listed intra-Asia liner operator achieved net income of $124.2m last year, a year-on-year decline of 13.9%.
SITC said revenue for the 12 month period was down 5.6% to $1.28bn. This was more than offset by a 7.8% decline in costs to just over $1bn.
It
