Angeliki Frangou’s flagship company recorded an adjusted loss of $7.7m for the quarter, a reduction from the $15.9m reversal of a year ago.
Its loss per share of $0.09 was ahead of the $0.15 per share red figure analysts has pencilled in for the three months to the end of June.
Revenue climbed 16% to $145.41m on a larger fleet, increased time charter rates and higher income from its logistics business.
