U-Ming Marine Transport has recorded a loss for 2016 as costs outstripped revenue.
The Taiwanese bulker and tanker owner said the net deficit last year was TWD 878.35m ($28.87m) from TWD 824.39m in 2015.
Revenue dropped to TWD 6.39bn against TWD 7.73bn.
Operating expenses were TWD 6.71bn, however, compared to TWD 7.54bn the year before.
