The Angeliki Frangou-led shipowner booked an unadjusted net loss of $1.5m, or $0.02 per share, for the three months to 30 June versus a $1.9m, or $0.04 per unit, reversal during the same period a year ago.

However stripping out one off items the company made a second quarter profit of $0.1m, or $0.0 per share, while last year’s total was unchanged.

Earnings