Oslo-listed Oceanteam Shipping has posted a rise in earnings and revenue in its latest quarterly release.

Oceanteam: strong performance

Profit steamed into the black turning around a $233,000 loss in the third quarter of last year to a positive $2.9m in the third quarter of this year.

Revenue also moved up a notch, rising from $12.9m to $16.7m over the period. However, the company’s engineering segment, although smaller than its shipping counterpart, put in the stronger performance of the two.

Operating