American Shipping Co maintained both its profitability and its optimism for a firming recovery in its protected US tanker trades.
The Oslo-listed owner of 10 product tankers operating under the Jones Act reported on Friday a net income of $3.6m for the second quarter, up from $1.1m in the same period of 2020.
Adjusting for one-off financial items, profit rose to $4m — a somewhat slower jump of 14% compared to to the three months ending in June of last year.
