Independent Tankers Corporation Limited announced financial results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported net loss of $4.2 million, equivalent to a loss per share of $0.06, for the third quarter of 2013. This compares with a net loss of $4.1 million, equivalent to a loss per share of $0.06, for the preceding quarter.

The Board of Independent Tankers announced a net loss of $10.2 million, equivalent to a loss per share of $0.14, for the nine months ended September 30, 2013. This compares with a net loss of $4.7 million, equivalent to a loss per share of $0.6 for the nine months ended September 30, 2012. The increase in the loss is primarily attributable to a decrease in earnings from the Ulysses following the termination of the bareboat charter on March 15, 2013 and the commencement of trading in the spot market and the amortization of the discount on the issuance of debt.