The Paragon Shipping spin-off said netearnings were $6.22m to 31 December, compared to $4.85m in the same threemonths of 2011.

The nine vessels brought in revenue of $19.38magainst $17.07m the year before.

Boss Michael Bodouroglou said the resultswere in line with expectations, despite the continued weakness in thecontainership sector throughout the year.

The fleet expanded from seven to ninevessels over the year.

But he said the market was expected toremain under pressure in 2013.

Charter