Navieras expects break-even year. (Navieras de Puerto Rico shipping line hopes to meet debt-service obligation this year)

Says falling interest rates have helped. Major carriers in Puerto Rico trade file for 2.9% rate increases.

Puerto Rico's government-owned shipping line says it expects to meet its debt-service obligations and break even for the first time in years.

Declining interest rates, the sale of a ship and company-wide cost-cutting have been credited for the improved results at Navieras de Puerto Rico.

"This year we had a good cash management program, and all of our interest expense has gone down because of the reduction in interest rates," said Enrique Delannoy, chief financial officer.

Delannoy said the company projects break-even results on …