Croatian owner Tankerska Next Generation (TNG) has posted lower profit in the third quarter in tough markets.
The MR company said net earnings were $0.36m, from $1.12m a year ago.
Revenue from its six ships was $12.61m against $11.34m in 2017.
It said conditions had been "challenging" but that efforts to cut costs had mitigated the effects of unbalanced market rates.
