The company said it made $4m net to 30 June, compared to $83.81m in 2013, but the latter figure includes sales gains of $82.58m.

Revenue grew to $39.66m from $37.79m, while ship operating costs were stable.

It said its anchor-handlers had improved utilisation and it has been taking delivery of 10 new supply ships from Fredriksen’s private Hemen Holding at a cost of $366m.

The