Impairment costs drove down Alterna Infrastructure’s second-quarter results as it sold a handful of ships.

The Aberdeen-based shuttle tanker owner reported a $40m loss for the three months ending 30 June, deeper than the $28.5m loss reported for the same period last year.

The New York-listed company said the red ink was due to a $38m impairment charge and the 95,418-gt Petrojarl Knarr (built 2014) coming off contract in May, though that drop was partially offset by the 31,007-gt Petrojarl I (built 1986) earning higher oil price tariff revenues.