The New York-quoted bulker owner turned in a loss of $33.4m, more than double the deficit reported a year ago.
The adjusted result amounted to $0.41 in negative earnings per share, a penny shy of Wall Street’s consensus forecast.
Revenues slid to $129.1m from $190.3m year-on-year as the Athens-based owner’s fleet of four dozen bulkers watched daily time charter equivalent averages fall to $12,871 from $18,932.
“Our
