The Finnish owner said it made EUR 0.3m ($0.41m)on a net basis, from a loss of EUR 10.9m in the corresponding period of 2013.

Revenue dipped to EUR 126.8m from EUR133.9m, however.

CEO Emanuele Grimaldi said: “The turnaroundin the company financial performance took place already during the last quarterof 2013, and has continued during 1Q 2014.”

The company has taken steps to optimiseroutes and sell ships, as well as making the “painful” decision to cut jobs inits port operations division.

Cargo