Oslo-listed Camillo Eitzen, the shipping group’s parent vehicle, has felt the pain as restructuring and tough markets ripped into quarterly profits.

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The shipowner shed millions in the third quarter with $30.2m going from continuing operations and $60m going from discontinued operations.

Camillo Eitzen said that the results were “substantially affected by the dilution of our ownership in Eitzen Maritime Services, and the declining market capitalization of Eitzen Chemical”.

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