The Restis-controlled company said net earnings to 31December were $7.47m, against a loss of $117m in the same three months of 2012.
Revenue dropped to $6.33m from $8.5m as the owner sold offvessels to settle all bank debts.
The 2012 result was marred by $109m in losses from vesselsale and impairments, as opposed to a $7m gain in 2013
CEO Stamatis Tsantanis said: “Since the beginning of 2013,the accumulated expected benefit in our total equity is approximately $110.7m,$25.7m
