The company, which operates 28 ships as Star Reefers, said the net loss to 31 December was $0.81m, down from a loss of $2.53m in the same period of 2013.

Operating and charter hire costs fell, but revenue dropped to $47.16m against $58.93m the year before.

Siem said supply and demand for vessels engaged in the fruit trades “looks to be reasonably well balanced.

“There