Theultramax bulker operator said its fleet earned a time chart equivalent averageof 32% over the BSI index for the first six months of 2013.

“Despitethe very challenging market in the dry bulk sector and thanks to efficientoperations by Setaf-Saget the trust has out-performed the market,” said chiefexecutive Philippe Rene Georges Rochet.

Greenship,which trades over-the-counter (OTC) in Oslo, said consolidated turnover was $142mwith an ebitda of $11m and an ebit of $5.1m.

During