Japanese owner Iino Kaiun Kaisha wants to sell ageing and 'uneconomic' ships as some of its markets struggle.
This is despite the company's mixed fleet bringing in an increased net profit in the year ended 31 March of JPY 4.26bn ($38.84m), from JPY 3.87bn 12 months previously.
Revenue dipped from JPY 83.32bn, to JPY 81.33bn, but impairments and losses on vessel charter cancellations fell.
