Samskip profits rising

Icelandic container line Samskip is positioning itself for acquisitions as earnings increase.

The company said it recorded profit of EUR 12.5m ($17m) from revenue of EUR 560m in 2013.

It added that revenue should exceed EUR 600m this year - with earnings rising further.

Samskip has revealed a plan to simplify and streamline its operations, bringing shipping and multimodal businesses together under the Samskip name.

All dry cargo and reefer forwarding activities will be combined under the newly created Samskip Logistics.

Jens Holger Nielsen, CEO of Samskip, said: "These changes capitalise on the strength of the company and will create an enhanced platform for profitable growth, both organic and acquisitional.

"They will also position us further to provide cost-efficient solutions."