Seanergy Maritime's bottom line fell deeper into the red, thanks to a a major fall in iron-ore supply following winter breach of Vale's Brumadinho dam.
The New York-listed capesize owner posted an $8.64m loss versus a $3.44m deficit a year earlier.
Net revenue dropped 25% to $16m, mostly due to the iron-ore giant's closure of 50 tailing dams taking 40 million tonnes of the commodity off the market.
