Siem Shipping has seen its net income for the second quarter halved as a result of a weak spot market.
The company reported quarterly net profit of $2.5m, compared to $4.8m in the second quarter of 2015.
Its revenue for the three months to the end of June was $39.3m, down from $45.8m in the corresponding quarter last year.
Siem Shipping explained the average spot market was 36 cents per cubic foot per 30 days, compared to 58 cents a year earlier.
The
