The company said net earnings were NOK 79.54m($13.43m) in the first quarter, from NOK 82.14m in the same period of 2013.
This year’s revenue grew from NOK 914m theyear before.
But finance costs rose to NOK 115.5m, fromNOK 83.8m over the same period.
It said: “While the market in Brazil showsa positive development, the markets in Indian Pacific are characterised byovercapacity of tonnage.”
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