Tanker and container shipping company Capital Product Partners has reported net income for Q1 2018 at less than half the figure for the same time last year, down from $12.3m to $5.3m. Total revenues, however, rose 8.6% to $65.5m, mainly thanks to the acquisition of a new ship and an increase in charters. The company’s chief executive, Mark Williams, said that while it was “disappointing” not to have made more money, he expected growth this year as demand increased following Brexit. Chartering activity for container ships remained solid during Q1.
Tanker and container shipping company Capital Product Partners has reported net income for Q1 2018 at less than half the figure for the same time last year, down from $12.3m to $5.3m. Total revenues, however, rose 8.6% to $65.5m, mainly thanks to the acquisition of a new ship and an increase in charters. In the product tanker market, the company said lower Chinese oil exports had been balanced by increasing western demand, and the Far East market had improved owing to an increase in Chinese product exports. Chartering activity for container ships remained solid during Q1.