The Oslo-listed company, which trades as Star Reefers, soundedan upbeat note as it delivered its full year earnings statement.

“The general mood in thereefer market is slightly more optimistic than it has been in recent years,”Siem said.

“The size of the fleet hasbeen trimmed down over the past few years to levels which broadly match demand.

“Spot rates have, at least inJanuary 2014, responded with an improvement over last year.