Nordic Shipholding has raised its forecast for the full financial year hot on the heels of reporting a strong result for the third quarter.

The tanker owner booked net earnings of $8.6m compared to a loss of $1.2m in the same stretch last year.

It explained that a $5.8m reversal of impairment loss and higher rates helped the company.

The reversal also boosted the company’s nine-month result to $12.2m