Belships has suffered a bigger loss in the fourth quarter of 2015 as a result of further vessel impairment charges.

The Oslo-listed shipowner said it lost $20m for the quarter against a loss of $4.2m a year ago due to a $19.9m write-down.

Revenue for the quarter was 7.5% higher year-on-year at $5.9m, while operating costs increased by 20% to $3.7m.

For the full-year Belships booked a loss of $30.1m