The company reporteda net loss of $2.2m for the three months ended 31 March 2014 against the lossof $4.6m seen a year earlier.
Revenueat the Aristides Pittas-led bulker and boxship owner was down just over 16% to$9.5m, while costs fell over 25% to $11m.
The greek shipowner was helped by drydockingexpenses falling 95% to $85,000, while depreciation was down by one-third to$2.8m.
Anaverage
