Navios Containers' results sink as larger fleet boosts costs

Navios Maritime Containers reported a slump in third-quarter profit, adding to a sharp fall in earnings for the first nine months as a larger fleet pushed management costs higher.

The Angeliki Frangou-led boxship owner's net profit through September dropped 64.7% to $4.57m, driven by a 19.7% fall in Ebitda to $41.4m.

Earnings per share (EPS) also took a hard fall, declining 66.7%