Finland's Containerships is forecasting an improvement in its results this year after slipping to a loss in 2018.
The CMA CGM-owned short-sea operator said the net deficit last year was EUR 0.6m ($0.7m), compared to a profit of EUR 0.1m in 2017.
EBITDA was down at EUR 13.3m from EUR 15.2m, due to increased bunker costs as oil prices rose.
It booked write-offs for intangible assets of EUR 2.3m, while depreciation, amortisation and impairments cost it EUR 9.19m, against EUR 7.42m in 2017.
Growth investment has increased financial costs, it said.
Revenue grew to EUR 268.03bn from EUR 226.65bn, however.
The company was bought by CMA CGM last year and merged with its short-sea carrier MacAndrews in January.
"The group paid special attention to increase its operational efficiency," it said.
"Through this special focus, the utilisation rates of vessels, containers and trucks were improved. These activities had a positive impact on the group’s performance."
Looking ahead, it said that this year revenue and EBITDA will improve.
