Constanta-based harbour operator Socep has cut some of the losses it had witnessed in the first three months of the year, in the second quarter, but it may not be able to fully offset them, due to the decline in harbour traffic, the company's management says. Socep had closed the first quarter of the year with losses worth 100,000 euros, approximately equal to those seen in the similar period of 2005. "We don't have the final data for the first six months yet. We don't know if we will be able to offset the losses in full, given that harbour traffic went down in the second quarter as well, but the losses will subside," Petrica Valcu, general manager of Socep explained for ZF. The company announced on Tuesday it would collect 0.9 million euros from the sale of assets made up of a building and the plot of land that goes with it, accounting for more than the gross profit budgeted for this year.
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