Energy

● Operating cash flow reached a record $706.8 million for the quarter.

● Crude utilisation reached 98.4 per cent, up from 76.9 per cent a year earlier.

● Time charter equivalent income rose to $372.9 million from $231.2 million.

● Net income was $173.7 million, compared with $179.7 million a year earlier.

● Spot VLCC tanker earnings averaged $118,883 a day, far above year-earlier levels.

● Adjusted EBITDA rose 21.7 per cent to $216.8 million, a 55.4 per cent margin.

● Adjusted EBITDA was $59.8 million, an 89 per cent margin for the quarter.