In a brief announcement, the diversified shipowner said it recovered from a huge loss of $1.76bn in 2013 to post profit of $748.5m for the 12 months to the end of last December.
Pan Ocean returned to black despite revenue falling by 36% to $1.56bn for 2014.
Its total equity was significantly boosted from $228.3m in 2013 to $1.29bn.
A Korean food company is leading an investment consortium which is buying the Singapore and Korea-listed owner.
Harim
