Lower rates and loss-making ship sales double Team Tankers' deficit

Chemical tanker operator Team Tankers' second quarter report shows lower rates, retreating revenue and a net deficit twice as deep as in the first quarter, with ship sales weighing down the bottom line.

Photo: Team Tankers

For the second quarter, Team Tankers reports a new operating deficit – and the deficit has grown since the first three months of the year.

The chemical tanker shipping company finished the period with a net loss of USD 17.4 million against roughly USD 8 million in the this year's first quarter, the company's interim report shows.

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