Japanese VLCC owner Kyoei Tanker has fallen into the red in the first quarter, but believes it can still beat last year's annual profit.
The net loss to 30 June was JPY 121m ($1.09m), from a profit JPY 692m in the same period of 2016.
Revenue dipped to JPY 3.07bn from JPY 3.37bn.
The company is forecasting profit of JPY 1.2bn
