The bulker and tanker owner said it made JPY 873m ($7.27m) on a net basis, from JPY 516m in the previous 12 months.

Revenue climbed to JPY 7.2bn from JPY 6.93bn over the same period.

In the current year to 31 March, however, it is forecasting a loss of JPY 270m, with revenue falling to JPY 6.1bn.

Tamai owns a fleet of eight vessels, seven of which were built in 2009 onwards.