The bulker owner said results had been “excellentfor a winter season”, being largely ice-free and so cutting fuel bills.
Operating profit reached EUR 3.3m ($4.58m) to 31March, against EUR 0.5m in the same period of 2013.
Its 15 ships brought in revenue of EUR21.2m, up from EUR 19.4m the year before.
But freight rates fell from the previousquarter and are at a “low level,” it added, although it described earnings forits two supramaxes as “highly satisfactory.”
Cargo
