UPDATE 1-Tsakos Energy swings to Q4 loss
* Q4 loss $0.45/shr vs EPS $0.74 yr-ago
* Q4 voyage rev falls 37 pct
* Shrs down 2 pct
March 17 (Reuters) - Oil tanker company Tsakos Energy Navigation Ltd (TNP.N) swung to a quarterly loss, hurt by a drop in voyage revenue.
For the fourth quarter, the company posted net loss of $16.7 million, or 45 cents a share, compared with earnings of $27.6 million, or 74 cents a share, a year ago.
The fourth-quarter results include vessel impairment charges of $19.1 million.
Voyage revenue fell about 37 percent to $98.2 million due to lower freight rates in 2009.
Analysts on average were expecting the company to post a loss of 4 cents a share, before items, on revenue of $80.7 million, according to Thomson Reuters I/B/E/S.
Quarterly average time charter equivalent rate per vessel fell 46 percent to $18,081 a day.
Shares of the company were down by 2 percent $15.80 Wednesday on the New York Stock Exchange.
For the alerts, please double-click [ID:nWNAB0638] (Reporting by Arundhati Ramanathan in Bangalore)
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