It said its SinOceanic II unit posted a net loss of $2.12m to 31 December, from $3.04m in the same period of 2012.

The subsidiary owns the 13,100-teu MSC Altair (built 2012), chartered to MSC for 15 years at $60,275 per day.

Vessel operating costs reached $1m from $0.65m the year before, so pre-tax earnings dipped to $4.3m in the fourth quarter against $4.8m