Between Aug 25 and 26, Samudera Shipping Line : S56 +0.5% executive director and CEO Bani Maulana Mulia acquired 97,600 shares at an average price of S$1.02 cents per share. This followed his acquisition of 49,100 shares at S$1.02 cents per share between Aug 18 and 19.

 

He maintains a 0.64 per cent direct interest in Samudera Shipping Line, which is primarily engaged in container shipping transportation of cargo in the Asian region.

 

The group&rsquo s vessels and services currently ply trade routes connecting various ports in South-east Asia, the Indian Subcontinent, the Far East and the Middle East. Bani was appointed group CEO on Sep 1, 2020 and is responsible for the group&rsquo s strategic direction, growth and day-to-day operations. He is also the president director of Samudera Indonesia.

 

Between Aug 18 and 19, Samudera Shipping Line : S56 -0.99% executive director and CEO Bani Maulana Mulia acquired 49,100 shares at an average price of S$1.02 cents per share. He maintains a 0.62 per cent direct interest in Samudera Shipping Line, which is primarily engaged in container shipping transportation of cargo in the Asian region. His preceding acquisition of 6,700 shares was on May 27 at 74.5 cents per share. Mr Bani took the helm as CEO in September 2020 bringing with him nearly 2 decades of industry experience, having started his career in 2001 as a finance officer in Samudera Indonesia. The group reported 1H22 revenue of US$476.2 million, representing 128 per cent year-on-year growth from 1H21. Revenue from the container shipping segment rose 131 per cent year-on-year. While in line with the higher level of shipping activities, cost of services rose by 77 per cent. This saw 1H22 net profit after tax of US$172.4 million. Looking forward, Samudera Shipping Line noted that while demand for container shipping services has stabilised, freight rates are expected to remain higher than pre-pandemic levels due to the lag in container vessel supply to meet demand.