US - based Gener8 Maritime posted a $ 45.4 m loss for 2017 , mostly due to low net voyage revenue . Compared to 2016 , the carrier 's net revenue decreased by 43.4 % to $ 46 m in Q4 of 2017 . The biggest reason for the revenue loss was a 10 % drop in the average daily TCE rate and the reduction of vessel operation days from 3,533 days in 2016 to 2,671 last year .
US-based Gener8 Maritime posted a $45.4m loss for 2017, mostly due to low net voyage revenue. Compared to 2016, the carrier's net revenue decreased by 43.4% to $56.4m in Q4 of 2017. The biggest culprit for the revenue drop was a 25.1% decline in the average daily TCE rate and the reduction of vessel operation days from 3,533 days in 2016 to 2,671 last year.