SITC reported after market close on 7 March where 22H2 net profit dropped 38%
HoH, much steeper than larger liners' 10-11% HoH drop on SITC particularly high
spot market exposure.
SITC reports full results semi-annually while provides top line update
quarterly. On quarterly basis, 4Q 2022 revenue dropped only 11% QoQ,
decelerating from the 20% QoQ drop in 3Q as SITC gained market share by having
increased its volume during 4Q by 18% QoQ. Maersk reported lower intra regional
volume while Hapag