Norwegian Car Carriers (NOCC) returned to the black in 2017 after two years in the red.
Owned on a 50:50 basis by Klaveness Marine Holding and US-based JP Morgan, the company saw a loss of $24.2m in 2016.
NOCC chief executive Olav Sollie claimed the market turned in 2017, although the private company conducted a writedown of values during the year.
