The Dubai-based tanker owner expects to card a net loss of AED698m ($190m) for the 12 months to 31 December, up from AED 147.8m for theprevious year.
Total operating income fell by around a third to AED 136.7mfrom AED 201m, it said in a statement.
Close to 90% of the 2013 loss is due to non-recurring provisionsmade for its exit from the VLCC sector, arbitration claims against the company as well as awrite off of goodwill.
Gulf
