TheNasdaq-listed operator reported a net loss of $86.1m for the three months to 31December, versus a deficit of $2.0m in the comparable stretch of 2012.
Euroseas wasquick to point out that the result included a non-cash impairment of $78.2m,which followed a determination that the book value of nine containerships was “notrecoverable”.
“Thecompany believes that the book values of its ships, following the impairmentcharge, provide a better estimation of the current values of its vessels,” it toldinvestors.
Excludingthe
