Published 2017-08-23 00:00:00
Team Tankers has sold two tankers

Team Tankers International Ltd. (OSE: TEAM) reported EBITDA for the 2nd quarter of $3.1 million, compared with $4.3 million in the 1st quarter of 2017 (Q2'16: $9.7 million). Net loss in the 2nd quarter of 2017 was $7.1 million, compared with a net loss of $6.6 million in the 1st quarter of 2017 (Q2'16 net loss: $4.4 million). The average time charter equivalent rate for the fleet was $10,258 per day this quarter, compared with $10,665 per day in the previous quarter.

In the 2nd quarter of 2017, the Company agreed to sell the Tour Margaux (8,674 dwt, built 1993). The transaction closed and the ship was delivered to the buyer in July. The vessel is classified under Vessels Held for Sale as of June 30, 2017.

Subsequent to the quarter, the Company sold the Sichem Dubai (12,888 dwt, built 2007) immediately prior to its upcoming special survey. To replace the capacity, the Company time chartered the Leon M (12,959 dwt, built 2008) in July.

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