Finland's Finnlines has chartered out an elderly ro-pax as it logged higher profit for the first quarter.

The long-term bareboat agreement with an unnamed operator will see the 34,000-gt Finnclipper (built 1999) leave the fleet in May.

Last week, the company inked a $240m order for three new hybrid ro-ro vessels at CSC Jinling Shipyard in Jiangsu, China.

The company's net profit in the first three months rose 48.6%