Hong Kong listed, but Shanghai-based, SITC International Holdings, has posted a 7.4 percent year-on-year profit increase to US$120.7 million in 2014, drawn on revenues of $1.4 billion, which rose 8.7 percent.

This was attributed to increases in the container shipping volume and as average rates increased, a stock filing of SITC International Holdings said.

Container shipping volume increased 4.8 percent year on year to 2.1 million TEU, with average container shipping freight rates up 2.9 percent $500 per TEU.

The company operated a fleet of 67 box ships, 32 of which were owned and 35 chartered, totalling 78,478 TEU. The company also owns six dry bulk vessels, forming a fleet of 438,596 deadweight tons.

Land-based logistics revenues increased 7.6 percent year on year to $786.1 million.