Diana Containerships has seen its loss for 2016 grow following a fourth quarter in the red.
The Nasdaq-listed company posted net deficit of $149m in the 12 months of last year, against $17.5m in 2015.
It added this figure includes impairment charges of $118.9m on seven ships.
For the fourth quarter, Diana Containerships logged a loss of $8.5m, compared to $8.8m in the corresponding quarter of 2015.
Its revenue for the period was $5.4m, down from $14.9m due to reduced employment opportunities and charter rates.
Diana Containerships fixed the 5,576-teu March (built 2004) to Hapag-Lloyd for $6,850 per day late last week.
The German owner will keep Diana Containerships’ vessel for nine to 14 months.
As TradeWinds reported, the company is in breach of a reworked loan from the Royal Bank of Scotland (RBS).
After reaching an agreement to amend a $148m RBS facility, the Greek boxship owner revealed it was in breach of the covenant.
Diana Containerships has also filed for a shelf registration, looking to raise as much as $250m.
