Waning volumes and a large writedown on its rail ferry business hit International Shipholding Corp’s bottom line last year.
The US diversified shipowner rallied somewhat in the fourth quarter to post a decent net profit despite poor sales in that period.
Alabama-based ISC was hit with a non-cash impairment charge of $24.43m in its rail ferry operations last year. This was instrumental in net profit sliding from $42.22m
