The bulker and tanker owner said it had been unable to complete its results, as it needed additional time to complete "certain disclosures and analyses."

It will be up to 15 days late, but NewLead added that the net loss will be at least 50% lower for last year, compared to the $158.23m it posted in 2013.

This is because it has recognised various consultation or advisory fees for 2013 as it sought to formulate a new strategy for the company.

These