Gener8 Maritime has ended the 2017 financial year with a fourth quarter loss of $45.4m in what is likely to be its last results before Euronav completes its takeover of the company.
The US-listed tanker owner said net voyage revenues decreased by $43.2m, or 43.4%, to $56.4m for the quarter versus the $99.6m achieved 12 months ago.
The average daily spot time charter equivalent (TCE) rate obtained by the Gener8 VLCC fleet, including those deployed in the Navig8 pools, was $23,752, down 35% year-on-year.
