Taiwan Navigation has posted a loss in the third quarter as revenue dropped.
The bulker owner said the net deficit was TWD 16.71m ($0.52m), from TWD 51.53m profit in the same period a year ago.
Revenue was TWD 630m from TWD 687m, but operating costs were only cut to TWD 619m, compared to TWD 629m in 2015.
The fleet of 34 ships also includes tugs, ferries and a dredger.
