The short sea mini-bulker operator says that freight earnings per day were flat through the final quarter.
But the bottom line deficit for the quarter was NOK 82m ($14.36) compared to a third quarter profit of NOK 4.5m. There was however a loss of NOK 24m for the same quarter of 2011.
The poor fourth quarter performance raised the loss for the year to NOK 103m ($18m) up from NOK 80m in 2011.
Wilson
