Lorenzo Shipping Corporation (LSC) has slightly trimmed its loss for the first quarter.
The Filipino containership owner posted a net deficit of PHP 64.4m ($1.3m), versus PHP 66.5m a year ago.
Its revenue took a hit and declined from PHP 565.9m to PHP 542.5m despite a 13% increase in container volumes.
LSC explained the average rate per teu was lower because of more vessels servicing the domestic market.
