US tanker owner American Shipping Company (ASMC) is targeting expansion after cutting its first quarter loss.
The net deficit to 31 March was $1.5m, down from $2m in 2016.
It gained $2.3m on investments, against $0.4m a year ago, while revenue edged down to $21.6m from $21.9m.
With no debt payments until 2020, and its 10 tankers fixed on long-term charters, it is now looking at growth.
