American Shipping Co (AMSC) has finished 2016 on a positive note by boosting both its quarterly and full year adjusted profit.
The Jones Act tanker owner reported quarterly adjusted profit of $5.8m against $2.24m a year earlier.
Its full year adjusted net profit was $16.3m, up from $1.8m in the corresponding period of the previous year.
AMSC explained its long-term bareboat charter helped the company offset the weak market conditions.
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