The performance of Eitzen Maritime Services (EMS) sharply deteriorated through the final quarter with a bottom line loss of more than $16m rung up.
The result increases EMS’ loss for the year to over $24m with a financial report issued today providing an insight into the problems that led to a refinancing and reorganisation of the company.
During the year EMS quit the shipmanagement and insurance broking business to concentrate on the business of chandlery and supply of spares to the shipping and offshore industry.
