The line also highlighted “strikes in Chile at the beginning of the year, overloaded infrastructure in Brazilian ports and political and economic problems in Venezuela and in Mediterranean countries” as other factors which hit its earnings.
“The freight rate recovery for refrigerated goods during the first half-year did not last. Over the course of 2013, rates for most services fell back to a level wholly insufficient, in light of the high level of investment, operating costs for reefer containers, and on-board equipment,” the company said, blaming ever-present vessel overcapacity.