Norwegian mini-bulker specialist Wilson has seen profit eroded in the third quarter as financial costs rose.
The net figure to September was €1.89m ($2.01m), compared to €2.21m in the same period last year.
EBITDA rose to €12.1m from €10m, while revenue increased to €68.2m from €67.1m, but the bottom line was hit by higher depreciation costs.
Time-charter equivalent earnings were €3,529 per day, up from €3,363 per day in 2018.
