It lost $42m in the 12 months to the end of December, compared to profit of $187.2m in 2013.
BLT’s annual revenue was $315.4m, down from $329.5m in the previous year.
The negative result comes hot on the heels of plans to transfer 27 ships to a new company owned by a consortium of lenders.
As TradeWinds has reported, private equity firms Kohlberg Kravis Roberts (KRT) and York Capital, which have bought nearly 70% of BLT’s bank debt, will take control of BLT's chemical tanker and LPG carrier fleet.
The
