Germany’s Ernst Russ Group expects earnings to drop by perhaps one-third this year.
But the boxship tonnage provider is “cautiously optimistic” that charter markets will stabilise.
The Frankfurt and Hamburg-listed company expects operating earnings (Ebit) to fall by up to 37%.
Ebit is projected to fall to between €57m and €77m ($61m to $83m) this financial year, down from €90.1m
