The New York-listed shipowner turned in a net profit of $0.8m for the three months to 30 June, reversing the $4.6m loss booked in the same period of 2012.
Adjusted for one off items the company logged net income of $2.6m against a $2.9m loss in the second quarter of last year.
The unadjusted result worked out at $0.15 per share compared to a loss of $0.84
