American Shipping Co (AMSC) is forecasting a recovery in a Jones Act market hit by low rates for tankers bringing in European exports.
The Oslo-listed owner of 10 product tankers said it continued to enjoy downside protection in weak markets through its bareboat charters to US operator Overseas Shipholding Group.
First-quarter net profit rose to $3.9m, from $1.6m, as financial costs were cut from $11.7m
