Hoegh LNG has posted an increase in earnings as revenue rose in the first quarter.

The Oslo-listed gas carrier company said net profit was $11.4m, up from $6.3m a year ago.

Revenue climbed to $68.65m against $55.43m, while financial expenses and tax were lower.

Underlying earnings reached a new high, it said, reflecting the 170,000-cbm Hoegh Grace (built 2016) starting a long-term contract in Colombia, which adds $22m to annualised net earnings.