Globus Maritime has widened its losses for the fourth quarter despite improving revenue for the three-month period.
The New York-listed company posted a $1.35m net loss compared to a $1.28m deficit a year earlier.
While revenue improved 10% to $4.4m, operating costs ticked up to $2.6m from $2.4m.
Loss for the year fell sharply to $3.57m from $6.48m as revenue jumped to $17.4m from $13.9m.
“We are very pleased with our overall performance during 2018," chief executive Athanasios Feidakis said.
Hope for the future
Feidakis said he hopes the trade war problems will be resolved this year for the benefit of the world economy and shipping.
"The combination of the trade war, Brexit, Chinese New Year among other factors repressed the demand which spilled over onto the industry charter rates," he said.
"However, the fundamentals have improved slightly recently and with the Baltic Dry Index doing better we are optimistic that the desperately needed rebound of the market isn’t too far off."
