TheNordic American Tankers-backed company said revenue was just over $13m in itsfirst full quarter since being formed.
NAO,whose fleet operates exclusively in the North Sea, said net income was impactedby a tax charge on operations of $1.2m.
However,it said it faced “minor future tax charges” as it had entered into the UKTonnage Tax system in March.
Thecompany also declared its first dividend of 45 US cents per share for the firstquarter of 2014.
