Vosco cuts loss

Vietnam Ocean Shipping (Vosco) has reduced its loss in the second quarter through an efficiency drive.

The state-owned company said the net deficit to 30 June was VND 57bn ($2.7m), compared to VND 99bn a year ago.

It said markets remained difficult, but it had managed to cut costs.

Revenue was down at VND 543.8bn in the period, from VND 595.9bn in 2013.

The company was placed under supervision in March by the Ho Chi Minh City Stock Exchange, after posting a loss of VND 194bn for the whole of 2013.

It has bulkers, products tankers and boxships.