Tamai Steamship has swung to a bigger loss in the first half of the year on the back of smaller revenue.
The Japan-based company reported net deficit of JPY 878m ($8.4m), versus a loss of JPY 94m a year earlier.
Its negative bottom line result came on the back of JPY 1.74bn revenue, compared to JPY 2.99bn in the corresponding period of 2015.
Tamai is now projecting a full year loss of JPY 920m against revenue of JPY 4.4bn.
The Japanese company controls a diversified fleet of bulk carriers and tankers.
