The monthly loss marks a significant improvement on March's numbers, which showed $15.5m in red numbers.

Before reorganisation costs and income taxes, the tanker owner had $4.1m in income in April.

New York-based OSG, which is required to file monthly operating reports since filing for bankruptcy, reported operating expenses of $81.2m during April and revenue of $82.3m.

The company has spent $406m in reorganisation expenses since its bankruptcy filing and has logged a combined $627m in losses from vessel operating expenses.

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