DHT Holdings reported posted a loss for the third-quarter due to a non-cash impairment charge on the value of its existing ships and its newbuildings.
The third-quarter weakness in tanker rates also sank revenue.
Oslo-based DHT reported a third-quarter loss of $75.7m, which includes a $76.6m non-cash impairment charge.
That resulted in a bottom-line net loss of $0.81 per share.
Without the charge, the company would have reported a breakeven quarter, while analysts had been expecting a $0.04