Indian owner Chowgule Steamship makes loss

Indian owner Chowgule Steamship said it logged a net deficit of INR 49.4m ($0.8m) to 30 September, from INR 34.1m in the same period of 2013. Revenue fell to INR 17.1m, compared to INR 39.1m the year before. India’s booming coal trade had enticed Indian owner Chowgule Steamship to revive its fleet expansion plans which was shelved last year, with a newbuilding order at a Japanese yard.
Mumbai-listed owner Chowgule Steamship booked two 34,000-dwt ships at Hakodate Dock Co for delivery in 2016 and 2018.