Norway’s Hoegh Autoliners has logged a big jump in earnings as car carrier markets continue to be short of ships.

The Oslo-listed car carrier operator said the third quarter was “solid”, with net profit reaching $92m, up from a loss of $9m in the same period of 2021.

Revenue jumped to $329m from $229m a year earlier.

Cargo volumes dropped 200,000 cbm from the second quarter, while the net rate increased 1% to a new record of $62.50