MOL group company Tamai Steamship has cut back losses in the first nine months of its financial year.
The bulker owner said the net deficit to 31 December was JPY 84m ($0.77m), against JPY 971m a year ago.
Revenue was up at JPY 3.76bn, compared to JPY 2.92bn in 2016.
Supramax specialist Tamai is forecasting a small profit of JPY 40m for the full 12 months, up from a previous estimate of a JPY 40m loss.
