Finland’s ESL Shipping is to rejig unprofitable time charters for bulkers this year following a lack of growth in fourth-quarter earnings
The bulker owner said pre-tax earnings were unchanged at €4.4m ($4.6m) as revenue increased by 11% to €54.7m.
Rolf Jansson, chief executive of Helsinki-listed parent Aspo Group, said ESL suffered from low industrial activity.
