CEO Harry Vafias said it would take time for the effects of its fleet growth to be felt, as it posted profit of $4.7m to 30 June, or $0.12 per share, compared to $5.1m in the same three months of 2014.
Revenues were $31.9m, an increase of $1.6m, as the fleet grew.
Operating profit was $7.1m compared to $6.9m in 2013, but finance costs rose $0.6m
