Norway's Odfjell declined much further into the red for the second quarter after paying more than $100m in costs related to a terminal sale.
The Kristian Morch-led company posted a $120m loss for the three-month period versus a $4.7m loss a year earlier.
Most of the negative result came from a $58.1m impairment and $43.6m bill following the sale of the Odfjell Terminals Rotterdam to Koole Terminals of the Netherlands.
