Glory Times reports on November 28th that Dexion Marine Transportation (02510.HK) announced that the Group expects the attributable profit to equity shareholders of the company for the ten months ended on October 31, 2024 to be no less than 0.27 billion US dollars, an increase of approximately 3700% from the attributable profit to equity shareholders recorded in the same period of 2023 of about 7.1 million US dollars. Therefore, the board of directors expects the attributable profit to equity shareholders of the company for the year ending on December 31, 2024 to increase significantly, while the corresponding amount for the year ending on December 31, 2023 was approximately 20.7 million US dollars.

The significant increase in profit for the ten months ended on October 31, 2024 is mainly due to (i) the rise in freight rates, mainly driven by the continued impact of the diversion of the Red Sea on supplies; and (ii) the increase in shipping volume, partly attributable to the company's increased shipping capacity.