American Shipping Company (AMSC) has had a stable second quarter as it switches its focus to diversifying its fleet.
The US tanker owner reported adjusted net profit of $2.5m, against $3.4m a year earlier.
Operating profit was $11.8m, compared to $12.6m while revenue remained steady at $21.9m.
Pal Magnussen, chief executive of AMSC, said: “We are pleased to deliver consistent financial results for the second quarter, in line with expectations, despite a continuing soft Jones Act tanker market.
