Connecticut tanker owner Diamond S Shipping will repurchase up to $50m of its own shares after returning to profit in the fourth quarter.
The New York-listed suezmax and product carrier specialist said net earnings to 31 December were $26.8m, compared to a loss of $30.2m in the same period a year ago, as the fleet expanded and rates rose.
Revenue from the 64 vessel fleet jumped to $186m from $97.5m.
