Norwegian gas carrier owner Solvang has increased profit despite falling VLGC rates in the first quarter.
The Oslo-listed company said net earnings were NOK 47m ($5.79m), from NOK 31.6m in 2015.
Total revenue grew to NOK 64.5m from NOK 49.7m over the same period.
The owner enjoyed the benefit of the full effect of four additional ships delivered during 2015, as well as improved utilisation for the ethylene carriers.
Solvang
