UK-based owner Altera Shuttle Tankers (AST) has returned to profit as it revealed a new charter deal.

The company said in an Oslo stock exchange filing that net earnings in the three months to 30 June were $2.2m, against a loss of $6.5m in 2022.

Charterers will have to use older tankers eventually, but not until rates hit $150,000, says Frontline’s Barstad
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Revenue dipped to $136.4m