The Greek bulker and boxship owner recorded red ink of $27.1m in 2014, compared to $12.2m in 2013.
It included a non-recurring loss of $13.4m from Sentinel Holdings, which it controlled with the commodities giant.
Sentinel decided to dispose of its two vessels, the 53,800-dwt Ermis and Alpine Trader (both built 2009).
Revenue slipped to $46.57m in 2014, down from $59.79m during the last year, reflecting a trimming of the fleet from 17 to 14 vessels.
John
