Higher revenues and reduced expenses also lifted Malaysia’s Global Carriers out of the red in the third quarter.
The tanker owner’s operating performance compared favourably with a year ago when it was only saved by a one-off provision reversal.
The delivery of newer ships and shedding of elderly tonnage was behind a rise in the company’s fortunes this time around.
The net loss for the three months to the end of September was MYR 1.88m
