New York-listed Navios Acquisition recorded a reversal of $2.95m for the three months to the end of June, down from the $1.44m deficit of a year ago. 

The figure included a $900,000 loss on the sale of the 306,500-dwt Shinyo Splendor (built 1993) and a $1.5m non-cash stock-based compensation expense, the company’s second quarter report explained.

Adjusted for the one-offs, a breakeven result was in line with Wall Street estimates, says Ben Nolan of Stifel.

Angeliki