Latvian Shipping Company (LSC) has logged a higher profit in the first quarter as it renegotiates debt.
The products tanker company said net earnings were $4.11m, against $2.98m in the same period of 2015.
Revenue grew to $25.16m from $21.98m in stronger markets.
Vitol-controlled LSC has 16 of its own tankers, plus another seven under management.
Talks are currently being held with banks regarding refinancing of its existing loans.
The
