American Shipping Company moved back into the black in the first quarter spurred by an improving Jones Act tanker market.
Aker-backed American Shipping saw its bottom line come in at $3.8m, overturning a loss of $1.5m at the same stage a year ago.
Pal Magnussen, chief executive of American Shipping, said: "The Jones Act market in which our tankers are deployed is experiencing improved conditions, with increased demand for transportation of crude oil to US Northeast refineries."
