The dry cargoship company said net earnings to 30 September were up 63.5% at RUB 881m ($14.38m), from RUB 538.9m in 2013.

Revenue increased by 10.2% to RUB 3.78bn, while pre-tax profit was up by 48.6% to RUB 1.03bn.

Cargo volumes in the first six months were up 5% year-on-year to 2.31m tonnes.

The company is part of Vladimir Lisin’s UCL group.