John Michael Radziwill-led GoodBulk is expecting strong bulker rates this year as fleet growth remains low and port congestion continues.

The Monaco-based capesize specialist said net profit in the fourth quarter of 2021 was $36.5m, against $7.6m the year before.

Revenue was up from $41.7m to $93.4m.

Annual profit hit $92m, against a loss of $4.5m in the previous 12 months.