The Nordic American Tanker spin-off said the net deficit to 31 December was $1.72m, against a profit of $2.82m in the third quarter of 2014.
Revenue dipped to $9.89m from $14.3m, as the fall in the oil price limited demand for new projects.
It has recently fixed two vessels out on four-month charters at rates “significantly higher than the present spot market.,”
