The tanker and containership owner said it made $7.3m on a net basis in the final three months, up from a loss of $42m in the same period of 2013.

Revenue grew to $24.4m from $23.2m year-on-year despite a smaller fleet.

The annual profit was $4.1m against a loss of $65.2m in 2013.

It has seven tankers redelivering from charters in 2015 and 2016.

CEO