The US-listed tanker owner said net earnings in the last three months of 2014 were $27.01m, against a loss of $53.67m in the same period of 2013.
Revenue grew to $72.35m from $57.79m year-on-year.
It was boosted by a gain of $23.5m from selling four VLCCs to spin-off Navios Maritime Midstream Partners in November.
Annual profit was $13.04m, up from a loss of $58.59m
