Harry Vafias-led Imperial Petroleum has continued to amass a huge cash pile despite weaker third-quarter markets.

The Nasdaq-listed owner of 10 MR and suezmax tankers, and handysize bulkers, logged net profit of $10.1m, down from $12.1m in the same period last year.

As Russia prepares to lift petrol export ban, gasoil trade remains more important for tankers
 Read more

The 2023 figure was boosted by an $8m gain from the sale of an aframax to affiliate C3is.