Finland’s ESL Shipping says profit were eroded in the first quarter by unexpected technical problems and domestic port walk-outs.

The Baltic Sea bulker specialist said operating earnings to 31 March were €6m ($6.6m), down from €9.2m at the same point of 2022.

Revenue dropped to €52.7m from €56.8m last year.

The company, owned by industrial group Aspo, said the result can still be considered good, however.