The Warsaw-listed owner said net profit was $3.9m to 30 June, 1% up on 2012.

Revenue jumped to $12.1m, a rise of 26.5%, thanks to increased dry bulk shipments, but freight rates were down 9.7%.

CFO Denys Molodkovets said: “We are satisfied with the growth of revenues in the first half of 2013, mainly in our key segment, that is dry bulk shipping, thanks to the increased tonnage of cargo.

“Our