The New York-listed company said net earnings were $7.04m to 31 December, against $15.09m in the same period of 2011.
Revenue grew to $149.72m from $140.06m as it added two vessels to the fleet.
But vessel operating costs jumped to $99.83m, compared to $91.9m a year ago, and depreciation expenses were higher too.
The company was also hit by unfavorable weather conditions, including Hurricane Sandy and low water levels, and a weaker Canadian dollar.
CEO Laurence Levy said: "At the present time, the demand environment in our markets looks very similar to the 2012 sailing season.
"We do not anticipate integrating any new vessels into our fleet or managing any major vessel modification projects during the 2013 sailing season, and therefore our sole focus will be to execute our business plan."
