The privately owned company reported pre-tax income of NOK88m ($14.85m) in the three months to 30 June against just NOK 27m in the first leg of theyear.

Earnings before income tax, depreciation and amortizationcame in at NOK 216m compared to NOK 154m in the first quarter.

Revenue rose to NOK 447m from NOK 386m.

Though most of its vessels are tied up on long term deals,Island said improvements in the spot market had made the difference in thesecond quarter.