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Finland's Containerhips plc says it is aiming to generate increased future profit via the implementation of bunker-saving initiatives.

Speaking in Monday's financial report for the second half of 2017, Kari-Pekka Laaksonen noted that the company's improved earnings before interest and tax (EBIT) had been "particularly affected" by the year-on-year (YoY) increase in marine fuel costs.

The company pointed out that the rise in the price of crude and bunker prices had added a "significant increase" of EUR 5.8 million to H1 operating costs.

In particular, Containerships highlighted the fact that higher bunker prices had contributed towards lower profitability in the Mediterranean market.

Despite the rise in fuel expenses, Containerships did manage to post a slight improvement in Q2 EBIT with a EUR 0.3 million, or 21.4 percent YoY rise to EUR 1.7 million. However, the Finnish firm also recorded a Q2 net loss of EUR 0.5 million, which was marginally better than last year's EUR 0.6 million Q2 net loss.

For H1, Containerships achieved a EUR 0.5 million, or 18.5 percent [stated as 19.7 percent in the report], YoY rise in EBIT to EUR 3.2 million. Net profit for the period was EUR 0.1 million compared to the EUR 1.7 million loss recorded in 2016.

"We aim to further improve business profitability through vessel optimisation, route planning and other savings programmes designed to reduce costs," Laaksonen noted.

Containerships also pointed out that it has begun the construction of four LNG-powered ships which are due to be delivered to the company in 2018. As previously reported, the keel-laying ceremony for the first LNG-fuelled ship and the steel-cutting ceremony for the second ship took place in April in Guangzhou, China.

"The company continues to progress on its chosen investment path based on its environmentally friendly LNG strategy," Containerships said.

In April, Bunker Index reported that Containerhips had been granted funding of EUR 16.9 million from the European Union to implement its strategy of using LNG throughout its logistics chain.

EUR 10.7 million is earmarked for shipping, while EUR 6.2 million will be used to build a European LNG terminal network in cooperation with other project partners.