NEW YORK (AP) -- Greek drybulk shipping company Navios Maritime Acquisition Corp. on posted a smaller loss in the second quarter as it expanded its fleet.
Navios said it received one new vessel in June 2011 and bought three others within the last year. Revenue climbed 38 percent compared to the second quarter of 2011.
Navios reported a loss of $1.6 million, or 4 cents per share. A year earlier the company lost $2.7 million, or 7 cents per share. Revenue rose to $35.9 million.
Shares of Navios Maritime Acquisition Corp. rose a penny to $2.83 in morning trading.