Box Ships Registers 48% Fall In Q412 Profit


News: Greece-based Box Ships registered a 48% year-on-year (y-o-y) fall in profit to US$2.9mn in Q412, compared with US$5.6mn in the same period a year ago. However, quarterly time charter revenue grew by 9% y-o-y to US$18.1mn in the reported period, compared with US$16.6mn recorded in Q411. The company posted US$13.2mn and US$67.3mn of profit and time charter revenue respectively in 2012. Meanwhile, in spite of a continued weakness recorded in the containership sector in 2012, the quarterly and yearly results were in line with the company's expectations, according to the chairman, president and CEO Michael Bodouroglou.

This article is tagged to:
Sector: Freight Transport, Shipping
Geography: Greece, Greece, Greece, Greece