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 31.5 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.