Sincere Navigation has posted a fall in profit as revenue dropped in the third quarter.
The Taiwanese bulker owner said net earnings to 30 September were TWD 38.66m ($1.29m), from TWD 127.56m in 2016.
Revenue decreased to TWD 689.74m compared to TWD 793.08m a year ago.
Operating costs were cut more slowly to TWD 91.66m against TWD 655.34m.
