The bulker owner said its net deficit to 30 September wasJPY 365m ($3.7m), down from JPY 872m in the same period last year.

Revenue increased to JPY 7.9bn from JPY 6.45bn, but theoperating loss was up at JPY 853m, against JPY 791m in 2012.

For the full year, the MOL-linked company is still predicting aprofit of JPY 200m, suggesting a much better second half.

This