Marenave makes less

German shipping company Marenave has seen first-half profit eroded by falling revenue.

The company said it made EUR 0.74m ($0.97m) on a net basis, compared to EUR 2.98m in the same six months of 2014.

Revenue dropped to EUR 25.84m against EUR 32.18m the year before.

Its six products tankers contributed a loss of EUR 1.41m from EUR 2.12m last year, while the four bulkers made a profit of EUR 1.91m, down from EUR 5.36m a year ago.

Marenave’s two containerships booked a loss of EUR 0.31m against EUR 1.21m in 2013, but its lone car carrier added earnings of EUR 2.16m, down from EUR 2.38m year-on-year.