TheTaipei-based shipowner posted TWD 360.4m ($12m), or TWD 0.42 per share, in netincome in the period from January to March.
This compares with TWD 197.5m, or TWD 0.23 pershare, recorded a year earlier, the company said in a stock exchange filing.
The shipowner attributed the improved set of financial results to better freightrates over the past two quarters.
However, it maintained a conservative outlook for the industry for the rest of this yearfollowing a decline in freight rates and the ongoing issue with vessel oversupply.
