Oslo-listed Western Bulk slipped to a loss of $24.4m for the period against a profit of $7.5m last time around.
The figure compared with the $6m consensus loss expected, analysts say.
Jens Ismar, chief executive of Western Bulk, said: “We saw a substantial drop in our net TC result in Q3-14, as our net long position on firm tonnage proved to be mistimed in the current market.
