Pioneer Marine improved first-quarter earnings despite lower rates as a result of US-China trade tensions, Vale's dam break in Brazil and Australia's weather troubles.
The Oslo-listed owner posted a $1.5m profit for the quarter versus a $1.3m profit during the same period last year.
Charter revenue also improved to $14.4m from $12.8m, thanks to management's good thinking.
The markets were weaker than expected due to many factors such as the US-China trade conflict, infrastructure disruptions in Brazil and heavy weather conditions in Australia," chief executive Torben Janholt said.
