INTERNATIONAL SHIPHOLDING CUTS LOSSES IN 1ST QUARTER
International Shipholding Corp., the New Orleans-based vessel owner and operator, reported a first-quarter loss of $920,000, compared to a net loss of $5.4 million for the first quarter of 2001.
The company reported operating income of $2.7 million, compared to an operating loss of $778,000 for the year-earlier quarter. Revenue dropped 23.9 percent to $58.7 million.
International Shipholding said it intends to complete the sale of its three LASH vessels during the second quarter. One of the three was sold earlier this month.
