Net loss in 4Q16 was $8.9 mill, compared with $4.2 mill in 3Q16 and a net profit of $4.9 mill in 4Q15. The averageTCE rate for the fleet was $10,550 per day in 4Q16, compared with $10,926 per day in the previous quarter.
Team Tankers' CEO, Hans Feringa, commented, "Despite a weaker than expected freight environment, Team Tankers has maintained an industry-leading balance sheet and has the flexibility to pursue a variety of strategic opportunities in the chemical tanker market.
“We are not pleased with the results that our fleet has generated in 2016, however, we believe that Team is well positioned to benefit from a cyclical recovery in chemical tanker rates,” he said.