It expects a greater net loss compared to the previous financial year and it blamed a drop in turnover, freight and utilisation rates for this outcome.
All three previous quarters were loss-making for the bulker owner.
In the last three-month period, Courage saw its deficit stand at $2.3m compared to $0.6 the prior year.
The company will publish its full year result on 27 February and it advised shareholders to exercise caution when dealing in its shares.
Courage
