Japanese owner Kyoei Tanker has increased its earnings on bigger revenue to 31 December.

For the nine-month period, it said net profit was ¥1.39bn ($12.66m), up from ¥870m in the corresponding three quarters of 2017.

Its four VLCCs, others tankers, bulkers and LPG carriers brought in revenue of ¥10.51bn against ¥9.53bn a year ago.

Its full-year profit forecast is unchanged at ¥1.65bn, compared to an actual result of ¥780m in the previous 12 months.

It has three VLCCs on order at Namura and Japan Marine United for delivery in 2019 and 2020.