The shipowner reported a loss of $27.7m, or 65 US cents per share, versus a profit of $10.1m,or 29 US cents per share, a year earlier.
Voyagerevenues fell 37% to $62.1m. The average charter rate for its ships fell 40%while vessel operating costs rose 8%, Genco said.
Genco’s average daily timecharter equivalent (TCE) rate decreased to $11,067 per day during the quartercompared with $18,299 per day a year ago.
The
