Far-Eastern Shipping Co (Fesco) reported a loss for the first quarter as revenue slumped amid a tough economy in Russia that has led it to consider explore restructuring.
The Moscow-headquartered liner operator and logistics company delivered $22m loss for the period, reversing a $16m profit from a year earlier.
Revenue plunged 38.2% to $126m while operating expenses dropped 42.5% to $84m.
That led to a gross profit before depreciation and amortisation of $42m, down from $58m in the first quarter of 2015.
The
