TheSingapore-listed company booked net earnings of $444,000 for the three monthsto 31 March versus a loss of $4.3m in the corresponding period of 2013.

Revenuefell by $10m to $86.2m following a downturn in sales across all business areas.

However Samudera,which operates mainly as a domestic and regional company, ended the period inthe black as costs fell by 15% to $81.9m.

Container shipping, which provides the bulk of its revenue, declinedby 7.9%