Torvald Klaveness has reported a full-year loss for 2016 of $58m, more than double the losses of $23m seen in the previous financial year.
However, the Norwegian shipowner made impairments of $59m on the value of its fleet of eight modern containerships.
The Lasse Kristoffersen-led company said full-year revenue was down almost 26% to $297m from the $400m seen in 2015.
“The markets where Torvald Klaveness operates continued to be challenging in 2016,” said chief executive Lasse Kristoffersen.
“Earnings
