The company, which trades as Star Reefers, said net earnings to 31 March were $0.5m, up from a loss of $1.5m in the same period of 2013.

It has about 77% of fleet capacity fixed for the rest of 2015, with an overall contract backlog of $428m.

Revenue was $43.3m, compared to $58.2m in 2014, however, as capacity decreased by 6% mainly due to the redelivery of the 526,250-cbf Regal Star (built 1994) in December 2014, and two vessel sales.