Vietnamese national owner Vinalines has logged a loss of more than VND 521bn ($23.34m) in the first six months.
The Thanh Nien daily reported that the deficit came on revenue of almost VND 8 trillion.
No comparative figures were given.
The company is hoping for better things in the rest of the year, however.
It is aiming to make a profit of VND 126bn from revenue of VND 19 trillion.
