Genco Shipping and Trading reported a $24.5m loss for the fourth quarter as expenses continued to swamp revenue.
But the New York-listed firm says the recent capital raises will provide enough liquidity to help it through 2017.
The loss was about half of the $49.2m loss it reported in the quarter a year earlier. For the full year 2016, Genco logged a $217m loss compared to a $194m loss in 2015.
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