The Hong Kong-quoted bulker, tanker and containership operator reported net income of $10m for the six months to 30 June, versus a gain of $1.6m in the comparable leg of 2013.
Despite lacklustre freight rates in the company’s core market revenues rose to $112.7m from $93.5m during the period, which amounts to an increase of 20.6% year-on-year.
In the operator’s earnings report it said the shipping industry “showed no signs of recovery” during the first-half and admitted that the “overall situation remained challenging”.
“Although
