Nordic American Tankers Ltd has reported a third-quarter profit of $25.8 million.

On a per-share basis, the Bermuda-based company said it had made earnings of 29 cents.

The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The tanker company, which has a fleet of 26 vessels, posted revenue of $66.7 million in the period.

In a statement, the company said its results benefited from a cash break-even rate below $12,000 per day per ship and achieving spot rates of about $35,000 per ship per day.