TheFotini Karamanli-led shipowner booked a loss of $14.2m in the fourth quarter versus a loss of $20.7min the same period last year.

Revenueat the London-listed Greek shipowner was down over 17% from a year ago to $10.9m,Hellenic said Monday.

However, the shipowner will have been boosted bya 2.6% improvement in the time charter equivalent (TCE) rate earned by itsships of $7,614 per day and a 2.8%