Fesco has made less in the first nine months of the year as tough market conditions had a negative impact on its shipping business.
The Russian group reported operating profit of $39.7m from January to September, compared to $60.3m at the same period of 2015.
It explained that its financial results were affected by lower time charter rates and a general lack of demand for containerships.
Its revenue from shipping operations sat at $45.3m, a year-on-year decline of 32%.
The total revenue of the group was $396.4m, against $543.5m a year earlier.
Fesco said it is still working toward finding a viable restructuring solution in cooperation with its bondholders.
As TradeWinds reported last week, the Russian owner is planning to sell shares, a move that could be negative for its stock but good news for its bondholders.
