Rickmers Group revealed that it slumped deeper into the red in 2016 as the German company faced what it called a "persistently challenging" environment.
The Bertrand Rickmers-backed shipowner and manager logged a bottom-line loss of EUR 341m ($372m) last year, more than doubling the EUR 136m loss in 2015.
Without impairment charges, the loss would have been about EUR 109m, reversing an adjusted profit of EUR 1.5m
