COURAGE INV (01145) announced its 2025 interim results, reporting total revenue of $4.381 million, a decrease of 13.59% year-over-year. The company posted a net loss of $1.708 million, representing a shift from profit to loss compared to the same period last year, with a loss per share of 0.16 cents.

The group's maritime business faced significant market pressure during the review period, with supramax dry bulk vessel charter rates plummeting 34.1% year-over-year. This sharp decline was primarily attributed to weak commodity demand resulting from escalating trade war tensions between the United States and other countries, as well as ongoing geopolitical conflicts in Ukraine and Palestine, which collectively led to shrinking commodity demand and vessel oversupply.

In the first half of 2025, the group strategically resumed its trading business to mitigate the cyclical impact on its maritime operations.