Atlantska Plovidba has managed to reduce its loss in a year it called a "bare fight for survival."

The Croatian bulker owner posted a net deficit of HRK 68.1m ($9.67m) for 2016, compared to HRK 233m in 2015.

The Dubrovnik-based company said: "Even after eight years of crisis on the global maritime market, we did not enter last year with too much optimism and 2016 has shown to be yet another year in a row of struggling for bare survival.

"The