New York-listed diversified tanker owner International Seaways fell to a $13.4m loss on rates weakness that is dragging into the current quarter.
But the numbers could have been worse without exhaust gas scrubbers on its VLCCs.
Nonetheless, Seaways' first-quarter loss of $0.48 per share is significantly better than the $0.77 deficit expected for the period by the Wall Street analyst consensus.
