Taiwan's U-Ming has been boosted by bigger revenue as it lowered its first quarter loss.
The bulker owner said the net deficit to 31 March was TWD 17.32m ($0.57m), from TWD 647.94m a year ago.
Revenue was up to TWD 1.79bn against TWD 1.46bn in 2016.
Operating costs were reduced to TWD 1.17bn from TWD 1.67bn over the same period.
