SCI Revenues Saved by Liners, Profits Cursed by Tankers — Panjiva
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SCI Revenues Saved by Liners, Profits Cursed by Tankers

Corp - Shipping 1026 Earnings 759 Global 1391 Mode - Seaborne 1845 Mode - Tanker 187

Diversified shipping operator Shipping Corp of India reported quarterly revenues that improved by 11% on a year earlier, around 1% better than expected. That was much better than the 6% decline expected for the tanker/bulker sector. SCI’s liner operations experienced a 55% jump in revenues, offsetting an 11% drop in revenues at its tanker operations. It couldn’t prevent a dip in profitability, however. The group’s EBITDA margin dropped to 11% vs. 16% expected and 17% a year earlier, turning in the worst performance since 1Q 2013. That also meant it underperformed the broader tanker group...

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