Wilbur Ross' Navigator Holdings has seen earnings fall in the fourth quarter as utilisation dropped following a vessel collision.
It said net profit was down from $25.32m to $23.82, while revenue increased $0.3m to $78.7m due to a bigger fleet.
This was offset by a lower time-charter equivalent (TCE) rate and lower utilisation, mainly as a result of off-hire of caused by a collision between its 20,550-cbm Navigator
