It said the net loss last year was THB 1.65bn ($50.88m) from THB1.93bn in 2012.

It logged a loss of THB 722m for vessel impairments and THB155m for onerous contracts.

Continued over-capacity dogged its performance and the fleetlifted 6% fewer boxes at 2.08m teu.

Revenue in the fourth quarter was up 8% at THB 3.47bn,boosted by asset sales.