The Nasdaq-listed bulker owner reported a loss of $23.1m in the three months to 30 June, far deeper than the $1.4m deficit recorded in the same period a year ago.
Negative earnings per share amounted to $1.46, well below analysts’ consensus estimate, which forecast a loss of $1.28.
The company blamed a sharp decline in revenues, which slid to $50.5m from $81.1m
