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Siem Shipping records profit in third quarter

Oslo-listed owner retains appetite for diversification as lower costs aid third quarter sums.

Siem Shipping continues to explore further diversification after adding car carriers to its core reefer fleet this year.

Oslo-listed Siem booked two 7,000-ceu car and truck carriers in Croatia earlier this year and has 28 reefer vessels to its name.

In reporting a third quarter profit today the owner said it is continuing to evaluate opportunities in other sectors of the shipping market.

Siem, which trades as Star Reefers, recorded a gain of $2.5m in the three months to the end of September, overturning red ink of $200,000 at the same stage in 2014.

Revenue was lower in the third quarter this year but reduced costs helped tip the owner into the black.


Read the complete arctile at Tradewinds

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