Norway’s Gram Car Carriers (GCC) is expecting to benefit further from record markets after revealing its first profit since listing in Oslo.

The world’s third largest car carrier tonnage provider carried out a $121m private placement in January.

Its first results statement reveals net earnings of $2.08m, against a loss of $3.8m, and revenue of $23.5m, up from $16.6m in the same period of 2021.