NEW YORK-listed Box Ships posted a first half net loss of US$844,000, drawn on this year's revenues of $27.3 million, a decline of 30.7 per cent. This after last year's $7.4 million year on year profit.

Greek based Box Ships also reported a second quarter 407 per cent profit decline to $675,000, drawn on revenues of $12.8 million, down 38 per cent.

"During the second quarter, there were some signs of improvement in the containership market," said Box Ships chairman, president and CEO Michael Bodouroglou.

"We managed to extend the charter of the MSC Emma with MSC for a further period of nine months at a daily rate of $9,450, which even though it is significantly below the previous rate of $28,500 per day, it is still a marked improvement compared to our previous extensions for similar vessels at around $7,000 per day," he said.

Box Ships also extended the charters of the CMA CGM Marlin and CMA CGM Kingfish for a further period of one year, commencing on September 1, 2014, at a daily rate of $9,500 and the charter of Box Trader until May 2015 or latest August 2015 at a daily rate of $8,500, he said.

Box Ships Inc is an international shipping company specialising in the transportation of containers. Paragon Shipping Inc, a global provider of shipping transportation services specialising in dry bulk, formed the company.