Okeanis Eco Tankers reported a 38% drop in fourth-quarter profits as the Greek tanker owner’s revenue declined.

The New York and Oslo-listed tanker owner said it earned a profit of $13.2m in the fourth quarter, compared to $21.3m in the same period of the prior year.

Adjusted net income, which factors out details not tracked by analysts, slid to $13m, down from $20.4m