The Singapore-listed owner booked a net loss of $0.3m in thethree months to 30 September, compared to a profit of $1.4m in the same periodlast year.

Group revenue fell 17.7% to $97.4m on lower contributionfrom the regional and Indonesia domestic container shipping businesses.

Increased competition in regional waters and oversupply ofvessels pushed revenue at its regional container division down by 19%, Samuderasaid in its financial statement.