Jason Marine in the red in H1

In the six months ended 30 September Jason Marine reported a net loss S$1.9m, with revenues of S$14.4m, a 43.6% decline on the same period in the previous year, SinoShipNews reports.

“It has been a difficult time for the group as the shipping industry continues to face a supply glut and low charter rates,” said Joseph Foo, chairman of Jason Marine. Foo warned the outlook was not set for any improvement. “We do not expect conditions in the industry to turn around over the medium-term, so we are bracing ourselves for a difficult second half,” he said.