Chilean shipper Vapores posted a net loss of $1.25 billion for 2011, the company said on Monday, as high fuel prices, hefty ship and container leasing fees and falling transport rates have weighed on its bottom line, Reuters reports.
Vapores saw a net profit of $170.8 million in 2010.
Sales in 2011 fell slightly to $5.152 billion, from $5.215 the previous year.
Vapores also posted an EBITDA loss of $919 million, versus an EBITDA gain of $326 million the prior year. EBITDA is earnings before interest, taxes, depreciation and amortization.
Vapores shareholders in October approved a $1.2 billion capital increase to shore up the shipper's finances.
Vapores saw a net profit of $170.8 million in 2010.
Sales in 2011 fell slightly to $5.152 billion, from $5.215 the previous year.
Vapores also posted an EBITDA loss of $919 million, versus an EBITDA gain of $326 million the prior year. EBITDA is earnings before interest, taxes, depreciation and amortization.
Vapores shareholders in October approved a $1.2 billion capital increase to shore up the shipper's finances.
