The Singapore-listed company did not put a figure on theexpected deficit but blamed provisions for impairment losses on the threebulkers it jointly owns with China’s Zhushui Energy Resources.

Seroja Zhushai Shipping owns one elderly capesize and twokamsarmax bulkers all of which are on charter to Zhushai Energy.

The company posted a net profit of $1.2m for the precedingquarter, twice the level seen during the third quarter of 2012.

Seroja