India’s biggest private owner, Great Eastern Shipping, has been breaking all kinds of records as tanker markets rebounded strongly.

The Mumbai-listed company said net earnings in its third quarter to 31 December reached INR 6.3bn ($77m), against INR 2bn a year ago.

The nine-month profit figure of INR 18.5bn was its highest ever.

And the company’s net asset value (NAV) has surpassed INR 1,000 per share for the first time.