Clarksons has reported a 7.6% year-on-year drop in profits for the first six months of the year, while recording a slight increase of 1 percent in its revenue.
Underlying profit before tax came in at £21.8m ($28.2m) in the January to June period, down from £23.6m last year. Revenue increased to £147.2m from £145.3m.
“The global shipping industry is experiencing the most challenging rate environment seen in many years which, as previously highlighted, has inevitably impacted the group’s performance,” the company’s chief executive Andi Case said in a statement.
“In the current uncertain macro-economic environment, we believe our markets will continue to be highly challenged, with low levels of newbuilding contracting and a prevalence of spot business continuing to limit forward visibility of earnings,” Clarksons said.