The Singapore-listed firm is expecting to incur a net loss during the quarter compared to the corresponding period of 2012. “The loss is mainly due to lower gross margin, mainly attributable to lower freight rates as well as high operating expenses incurred for our fleet of vessels,” it said.
The Indonesian investment firm provides chartering services of tugboats and barges primarily used to transport thermal coal, sand and other quarry materials.
The company generally enter into freight and time charters which range from a period of one to five years.
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