The net loss for the period was $59.6m, or $0.60 per share, compared to $36.4m in the corresponding quarter of 2013.
The company said it took a hit from a $41.5m impairment related to four old VLCCs; the 302,200-dwt Front Opalia, the 300,100-dwt Front Commerce and Front Commanche (all built 1999) and the 310,000-dwt Ulriken (built1998).
It was also hurt by a de-consolidation loss of $3.6m
