Greek VLCC owner Navios Maritime Midstream Partners (NAP) has increased first quarter profit as revenue rose.
The New York-listed company said net earnings to 31 March were $7.49m, against $6.31m a year ago.
Revenue from its six tankers reached $24.14m from $16.7m as it added two ships in June last year.
But these VLCCs were leased out at lower rates, which brought the time charter equivalent (TCE) figure down to $43,476 for the quarter, from $45,898 a year ago.
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