Bermuda Container Line Ltd. yesterday said higher costs, including more expensive fuel rates, pushed down the group?s earnings by 28 percent to $2.46 million during the first nine months of 2005.

Geoffrey Frith, BCL chief executive, told the company experienced across-the-board cost increases during the period. On top of higher fuel costs brought on by record crude oil prices worldwide, US stevedoring service costs were higher as were the rates for trucking services in North America.

The owner of Bermuda freighter and joint owner of also sustained higher overland costs from shipments it has trucked to port.

Mr. Frith said fuel prices, and a shortage of truckers were behind the higher costs.

Repair costs also hit the company?s bottom line with both ships experiencing engine breakdowns during the period.

While net income declined $925,500 compared to the same period in 2004, consolidated revenue saw only a marginal dip, and the outlook is good for the fourth quarter.