Altera Shuttle Tankers (ATS) is targeting longer-term deals after a loss-making 2021.

The shuttle tanker owner, controlled by Altera Infrastructure, said its long-term growth strategy focuses on “expanding our fleet under medium-to-long term charter contracts”.

The company, which has bonds listed in Oslo, also said it intends to execute “select new projects”, focusing on increased returns on capital, as well as the development of further capital-light and asset-management solutions.