CMA CGM will carry on investing after 'solid' Q1, despite unclear outlook
CMA CGM’s shipping line was exactly in line with the average market growth in Q1, ...
© Khunaspix Dreamstime.
By Mike Wackett
Containership owner Global Ship Lease (GSL) posted a net loss of $68.2m for 2016, following a $32m deficit the previous year.
The blame, said the firm, rested with vessel impairment charges of $92.4m.
Revenue from time-charters went up slightly to $166.5m in the year, from $165m in 2015.
The value of four vessels was written down by $63.1m in the Q4 accounts after reviewing their book value against “the continuing adverse market conditions” explained GSL’s chief executive, Ian Webber.
Q3 was hit by a $29.3m impairment charge, triggered ...
Comment on this article