Siem Shipping has turned a loss in the third quarter due to increased competition from container lines for reefer cargo.
The specialized reefer owner reported a net loss of $1.9m from July to September, compared to a $2.5m profit a year ago.
Its quarterly gross revenue stood at $41.5m, down from $49.3m in the corresponding period of 2015.
Siem, which will officially delist from the Oslo Stock Exchange in December, attributed the weaker performance to the low spot market activity.
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