John Fredriksen-controlled SFL booked a profit of $34.6m in the three months to the end of September, compared to $22.4m in the same spell of 2013.

Total operating revenue for the period increased from $73m to $83.2m.

As a result, the shipowner is handing $0.41 per share to investors and said the dividend can be increased in the coming quarters.

The fixed-rate charter backlog from SFL’s 70-vessel fleet was $4.6bn