Taiwanese owner First Steamship has fallen to a loss on reduced second quarter revenue.

The net deficit was TWD 121.6m ($4m) to 30 June, down from a profit of TWD 25.04m in the same period of 2016.

Its eight bulkers produced revenue of TWD 1.64bn, against TWD 1.81bn a year ago.

Operating costs were cut to TWD 950m compared to TWD 1.22bn