Finnish shipping company Containerships, part of French CMA CGM group, said its earnings before interest, taxes, depreciation and amortization (EBITDA) estimates have been cut. 

The earlier guidance was set above the 2017 figure, the company said, adding that under the updated guidance EBITDA is expected to come below the 2017 level.

Containerships said in its statement that the revenue growth for 2018 estimated at 10 percent is maintained in the updated guidance.

The profit margin was affected by lower-than-expected profitability, non-recurring project costs and higher-than-expected investments related to LNG vessels.

New LNG vessels are expected to bring significant new business and profitability in the second half of 2019 when vessels are fully operational.