The company booked earnings of $36.6m for the year, compared to $58.3m in 2013.

Revenue declined by 4% to $633.5m as it said it had not remained unaffected by the unstable political environment in Brazil.

Jose Francisco Gouvea Vieira, chairman of Ocean Wilsons, said: “The overall operating performance of the group in 2014 has been robust with our key operating performance indicators showing year on year growth at our towage, container terminal and offshore businesses.

“Operating