Chinese regional carrier SITC International Holdings profits nearly doubled last year on the back of the booming container market.

The Hong Kong-listed feeder operator made a net profit of more than $1.9bn in 2022, according to preliminary and unaudited accounts.

That is up from $1.17bn for the previous year.

The Yao Shaopeng-led company attributed the performance to the relative stability of freight rates as well as its strategy of continuous expansion of business in the Asian market.