Weak LPG freight rates despite high utilization have contributed to Avance Gas’s red ink in the second quarter.
The LPG carrier owner clocked up a net loss of $14.5m, against earnings of $21.1m in the previous quarter.
It explained this figure would stand at $8.4m if a one-off charge from the sale of a ship was excluded.
The extent of the company’s quarterly loss was in line with analysts’ estimates.
The
