The company said net earnings were $5.45m, compared to $5.5m in the same three months of 2014.
It was boosted by a derivatives gain of $8.28m.
Revenue plunged to $275m from $342.5m, however, and the operating loss was $5m, against a profit of $1.68m in 2014.
The bulker player said it had a "robust cash position." Total available liquidity was $88.5m at 31 March.
Challenging
