Norwegian owner Thor Dahl Shipping has reported a return to profit after a disastrous year in 2016.

The Sandefjord-based company, which is targeting new investments in the containership market primarily for ships between 1,000 teu and 3,000 teu, posted a pre-tax profit of NOK 2m ($250,000) for 2017.

Thor Dahl, which was founded in 1887, suffered a NOK 103m ($12.9m)