The John Fredriksen-controlled company made a profit of $6.2m, or 2 US cents per share, against $7.1m, or 6 US cents per share a year ago.

The Oslo-listed company reported revenues of $44m, a year-on-year increase of nearly 30%, but costs rose 41% to $18.8m.

DESS attributed the improvement in revenues to the start of term contracts for newly delivered PSVs newbuildings.

It