Even if we exclude the non-cash amortization of stock-based compensation expenses, G&A expenses were reduced by 14% from $2.8 million to $2.4 million. Our net loss for the fourth quarter 2011 amounted to $69.3 million, which includes a $62 million impairment loss related to two of our Capesize vessels namely Star Sigma and Star Ypsilon, the two oldest vessels in our fleet both built in 1991.Excluding non-cash items, our net loss for the fourth quarter amounted to $3.1 million. Adjusted EBITDA for the fourth quarter 2011 was $12.5 million, while our average daily operating expenses were $6,028 per vessel. In the fourth quarter 2011, the time charter equivalent was $19,561 per day.
Star Bulk Carriers' CEO Discusses Q4 2011 Results - Earnings Call Transcript
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