This compares with net income of $34.3m in the first quarter and a loss of $16.7m in the same quarter a year ago.
The South Korean shipowner saw revenue come in at $369.4m, a 13.1% increase on the first quarter of 2014, but 53% down on a year ago.
Last month TradeWinds reported that Pan Ocean had ordered two Newcastlemax bulkers at china’s New Times Shipbuilding.
The
