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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.

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