It said net earnings for the three months to 30 September were $9m, compared to a loss of $39m in the same period of 2012, as revenue grew to  $296m against $276m.

The nine-month loss has been cut to $6m from $71m.

The company said chemical tanker activity over the summer and through the third quarter held steady and was in line with the second quarter on both contract nominations and spot activity.