Singapore Shipping Corp (SSC) has pushed up its profit in the first quarter and is keen on acquisition opportunities.

The vehicle carrier owner booked net profit of $2.56m for the three months to the end of June, a year-on-year improvement of 60%.

Its quarterly revenue was $11.8m, compared to $10.8m in the corresponding quarter of 2016.

SSC explained that revenue from its special projects helped the company perform strongly.

“With its increasing accumulated cash flows, the group continues to evaluate acquisition opportunities, alternatively early repayment of loans,” SSC said.