The New York-listed containership owner cut the dividend in half to $0.06 per share.
Bodouroglou said the board of directors took the decision to preserve liquidity in a market that is showing no signs of rebound.
“We believe this reduction is necessary as we have secured for 2014, under our existing charter contracts, only 48% of our fleet capacity, and the continued weakness in the containership market has resulted in time-charter rates remaining well below the rates our vessels currently earn,” he said.
Bodouroglou,
