The Oslo-listed John Fredriksen-controlled company, fresh from adding the ships of sister company Knightsbridge, posted a net deficit to 30 June of $35.54m, from a profit of $6.28m in the same period of 2014.
Operating costs rose to $70.13m against $13.79m last year, as voyage expenses jumped.
Revenue increased to $49.33m from $20.59m.
The six-month loss was $110.88m, compared to a profit of $17.22m
