The Bombay-listed owner’s mixed fleet of 30 vessels turned in profit before tax and interest of INR 626m ($9.9m), compared to a loss of INR 403m in the year earlier period.
Average TCE rates for its eight crude tankers dropped 23% to $14,142 per day, while its eight bulkers paid out 17% less at $9,745 daily.
However, the company’s 13 product carriers and one gas carrier earned an average of $14,429 daily, up 13% on the previous year.
Great
