The US-listed shipowner posted net income of $675,000 versus a profit of $3.4m in the corresponding quarter in 2013.
Box Ships fleet of nine containerships saw revenue for the three months decline 27% year-on-year to $12.8m.
“The reduced charters on the Box Queen, CMA CGM Marlin and CMA CGM Kingfish were the contributing factors to the decline in our time charter revenues, which directly impacted our bottom line,” said chief executive Michael Bodouroglou.
The
