Net loss in 2Q19 was $17.4 mill, compared with a net loss of $7.9 mill in the 1Q19 and a net income of $4.4 mill in 2Q18.
The average TCE rate for the fleet was $11,611 per day in 2Q19, compared with $12,123 per day in the previous quarter.
Team’s CEO, Hans Feringa, commented “We freed up capital by divesting certain intermediate and older deepsea tonnage, leaving us with a more focused and attractive fleet and additional capital for investment activity. The divested asset prices are at levels well above what is implied by the second quarter traded share price, proving value for our shareholders.
“We will consider further divestment and investment activity as we position ourselves for 2020, with emphasis on becoming a more focused deepsea shipping company,” he said.