Net loss in 1Q17 was $6.6 mill, compared with a net loss of $8.9 mill in 4Q16 and a net profit of $4.5 mill in 1Q16.
The average TCE rate for the fleet was $10,665 per day for 1Q17, compared with $10,550 per day in the previous quarter.
In the first quarter, the company redelivered three timecharter vessels following the expiry of the lease period. These vessels were classified as operating leases.
Hans Feringa, president & CEO, commented: "The first quarter of 2017 has seen a marginal improvement in the chemical tanker market. We expect the remainder of the year to remain challenging as vessel deliveries continue at a steady pace. We believe that the environment in 2017 represents a compelling cyclical opportunity to continue to build and refine the Team Tankers fleet. Team Tankers continues to be ideally positioned to drive consolidation in the chemical tanker market."