John Fredriksen-controlled Golden Ocean has posted a big jump in fourth quarter earnings as bulker markets improved.
The Oslo-listed company said net profit to 31 December was $27.12m, up from $6.47m a year ago.
This was ahead of the average analyst forecast of $23m.
Revenue soared to $151.41m from $85.75m over the same period as its fleet expanded.
The owner added five capesize newbuildings in January and February this year, completing its newbuilding programme.
