Net earnings were $83.9m, against a loss of $39.2m in 2013.
Revenue was up 10% at $1.38bn from $1.26bn, reflecting better rates, especially in the crude sector.
It also profited from an increasing focus on its gas transport and offshore businesses.
CEO Sergey Frank said there was still some potential for the rates to firm up more for conventional tankers.
“These improvements to the top line coupled with enhanced organisational efficiencies being made and lower bunker costs stimulated our earnings growth and our bottom line results for 2014,” he added.
CFO
