Japan’s Kyoei Tanker has reported a first-quarter loss on the back of a depressed tanker trading market.
The Tokyo Stock Exchange-listed shipping company said it increased sales by 7.6% to ¥3.31bn ($24.5m) in the three months to the end of June, compared with the same period last year.
Ordinary profit slumped 70% to ¥71m, and it made a net loss of ¥22m, compared with a profit of ¥10.6m
