Ultrapetrol has reported a slightly smaller loss for the full year as its restructuring negotiations continue.
The shipowner logged a deficit of $48m for the 12 months of 2015, compared to $52.3m in 2014.
It came on revenue of $347.5m, which was lower than the $363.7m figure a year earlier.
Damian Scokin, chief executive of Ultrapetrol, said: “While we have made real progress over the course of 2015 in identifying opportunities to improve our operations and realize cost savings, historically weak commodity markets have hampered our ability to translate that progress into bottom line results.”
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