Canada’s Altera Shuttle Tankers (AST) has confirmed a vessel sale in the third quarter as it cut its loss from a year ago.

It said that last month it agreed to offload the 50%-owned 150,200-dwt shuttle tanker Nordic Rio (built 2004) for continued use for $27m.

The vessel operates in the conventional tanker market and is co-owned with Sweden’s Stena Bulk.