Net loss for 2014 rose to $17m from $14.2m in 2013 which translates to a loss of $0.37 compared to $0.31 a share the previous year.

There was a big jump in revenue to $20.6m, almost 90% higher than the $10.9m of 2013.

Hellenic Carriers average fleet increased to 5.9 vessels in 2014 up from 3.7 the previous year.

The average time charter equivalent rate also rose to $10,687 from $8,507 per day the previous year, outperforming the panamax average of $7,718 and a supramax rate of $9,818 per day.

“Despite