Loss on ship sales hit Gener8 with large deficit

US-based tanker shipping company Gener8 Maritime, on track to be merged with Belgium's Euronav, finished 2017 with a large deficit partly attributed to losses incurred on the sale of two ships.

Photo: PR-foto: Euronav

Losses incurred on the sale of two vessels contributed to dragging US-based tanker carrier Gener8 into the red with a USD 45.4 million deficit in the last three months of 2017.

Adjusted for losses from the ship sales, the crude oil carrier booked a deficit of USD 18.6 million, according to a financial statement published Thursday.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk unveils design of methanol vessels

For five years, Maersk has been working on developing a new vessel design, which can increase the energy efficiency of its fleet by 20 percent. The first eight vessels are planned to sail on green methanol from 2024.

Further reading

Related articles

Latest news

See all jobs