NEW YORK (AP) - Bermuda-based Nordic American Tanker Shipping Ltd. on Friday reported its fourth-quarter profit multiplied as total voyage revenue rose nearly 2 percent.

For the three months ended December 31, the company posted net income of $17.2 million, or 50 cents per share, compared with a profit of $1.7 million, or six cents per share, for the same period a year earlier.

The latest quarter included a loss of five cents per share related to unscheduled repairs on two vessels.

Analysts surveyed by Thomson Reuters, on average, expected earnings of 54 cents per share in the quarter. Analysts generally exclude one-time items from their estimates.

Total voyage revenue in the quarter rose to $40.9 million, compared to $40.2 million a year earlier.

For the full year, the company posted profit of $118.8 million, or $3.63 per share, compared with a profit of $44.2 million, or $1.56 per share, for the previous year. Total voyage revenue came to $228 million for the year, compared with $187 million the year before.

The company said the present instability in the international financial markets continues to be challenging for the shipping industry. But the company said it has no debt, and it has an undrawn revolving credit line of $500 million with a term up to September 2013.