A sizeable impairment loss on the expected sale of a handysize bulker has sent Greek owner FreeSeas into the red in the third quarter.
The Ion Varouxakis-led company did, however, see revenues inch up on the back of slightly improved rates while spotting further growth potential for small bulker markets.
Nasdaq-listed FreeSeas ran up a deficit of $9.5m in the three months to the end of September as against a profit of $0.5m
