TIL lost $900,000 in the three months to the close of September, a reversal of $0.02 per share.
The shipowner says revenue reached $20.7m as crude tanker spot rates hit the highest level seen in the third quarter since the global financial crisis of 2008.
“The increase in tanker rates was primarily due to a combination of stronger seasonal oil demand in July and August, an increase in long-haul crude movements from the Atlantic to Pacific and a contango oil price structure which encouraged crude oil stockpiling,” TIL said.
