Containerships Looks to Vessel Optimisation to Increase Profitability

by Ship & Bunker News Team
Wednesday August 16, 2017

Containerships plc (Containerships), in its financial report covering the 2017 H1 and Q2 periods, said it will continue to pursue increased vessel efficiency in order to increase profitably amid greater bunker costs.

"The rise in the price of oil on the global market and higher fuel prices added a significant increase of €5.8 million ($6.79 million) to operating costs, which in turn constrained profitability improvement," explained the company.

For the 2017 H1 period, Containerships reports that its net sales were up almost 12 percent year-on-year to €110.5 million ($129.36 million), while net profit was up to €0.1 million ($0.12 million), a €1.8 million ($2.11 million) increase compared to the same period of 2016.

Meanwhile, for the 2017 Q2 period, Containerships reports net sales €54.8 million ($64.15 million), compared to €49.8 million ($58.3 million) during the same period of 2016, and an EBITDA of €3.6 million ($4.21 million), compared to €3.4 million ($3.98 million) during 2016 Q2.

"Improved EBIT was particularly affected by higher fuel costs compared to the same period a year earlier. We aim to further improve business profitability through vessel optimisation, route planning and other savings programmes designed to reduce costs," said Kari-Pekka Laaksonen, Containerships' CEO.

As Ship & Bunker has previously reported, Containerships continues to work toward the utilisation of liquefied natural gas (LNG) as fuel for the company's fleet, with four LNG-fuelled boxships slated for delivery in 2018.

Ship & Bunker News Team
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