Box Ships Inc (PK:TEUFF)
Business Focus: Deep Sea Freight
| Sector: Industrials | Industry: Marine Freight & Logistics |
| Company Contact | |
| Address: | 15 Karamanli Ave., Voula ATHINA 166 73 |
| Tel: | 1-212-6918087 |
| Website: | N/A |
| IR: | N/A |
| Key People | ||
| Michael Bodouroglou Chairman of the Board, President, Chief Executive Officer, Interim Chief Financial Officer | ||
| Business Overview |
| Box Ships Inc. is an international shipping company. The Company is engaged in the seaborne transportation of containers across the world. The Company is focused on pursuing opportunities in the container shipping industry. The Company's fleet comprises approximately nine containerships with a 20-foot equivalent unit (TEU) weighted average age of over 11.3 years and a total capacity of approximately 43,920 TEU. The Company operates through various vessel-owning subsidiaries incorporated in the Republic of Liberia, the Republic of the Marshall Islands and Hong Kong. The Company outsources the technical and commercial management of its vessels to Allseas Marine S.A. (Allseas). Allseas provides the management services for all of the vessels in its fleet. The vessels in its fleet include Maule, Box Hong Kong, Box China, Box Emma, CMA CGM Kingfish, Box Marlin, Box Voyager, Box Trader and Box Queen. Its operations are primarily conducted outside the United States. |
| Financial Overview |
| For the fiscal year ended 31 December 2016, Box Ships Inc revenues decreased 60% to $17.5M. Net loss applicable to common stockholders increased from $28.5M to $226.5M. Revenues reflect Time charter revenues decrease of 60% to $18.3M. Higher net loss reflects Impairment - Fixed Assets increase from $21.6M to $240M (expense), Fair value change of warrants decrease of 99% to $2K (income), Foreign currency (loss) / gain. |
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