Norwegian handymax operator Eastern Bulk is on track to return to profitability this year.
The privately owned company reported a pre-tax loss of $4.3m last year but this year’s surge in rates has changed the outlook for the company.
“We will log a considerable profit this year,” said chief financial officer Helen Tveitan.
This year, the Otto Tidemand-owned operator has boosted its fleet to 30 supramax bulkers, which it has taken in on charter deals.
