Thoresen Shipping has posted a net profit for the third consecutive quarter as it continues to ride the recovery in the dry bulk sector.

The Thai-backed shipowner booked net income of THB 74.2m ($2.2m) for the third quarter against a loss of THB 222.7m 12 months earlier.

The supramax specialist saw revenue increase 10% year-on-year to THB 896.3m,