Atlantic Nav nets more

Offshore owner Atlantic Navigation has seen its first half profit climb by one fifth.

SGX-quoted Atlantic banked $6.62m in the six months to the end of June, beating the $5.52m of a year ago.

It explains higher revenue from both its marine logistics and ship repair divisions helped spur its bottom line.

Atlantic says its new Ghanaian business is activity working with potential new clients as part of a strategy to secure more business away from its core Middle Eastern market.

Since the end of the quarter, the company has taken delivery of a platform supply vessel (PSV) newbuilding.

It has a further PSV and a liftboat in its orderbook.

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