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Costamare saw profits decline in 2nd quarter

Growing, stock-listed container shipowner Costamara saw its profits decline in the 2nd quarter, though the company's revenue grew significantly.

Photo: Hanjin

New York-listed container shipowner Costamare achieved a net profit of USD 27.4 million in the second quarter, a decline of around 10 percent compared to the USD 30 million result from the same period 2013. The setback is attributed to increased operating and financial costs.

Revenue grew 23.5 percent in the quarter, mainly due to new ships joining the fleet.

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