Greenship on the rise

Jacques de Chateauvieux’s Greenship Bulk Trust has recorded an improved profit for 2013.

Oslo over the counter (OTC) listed Greenship saw its bottom line grow to $6.25m last year, beating the $4.60m of 2012.

The bulker owner, in which Golden Ocean is a significant investor, saw revenue climb from $238.42m to $312.14m year-on-year as its fleet grew.

While costs also rose as its ship-count increased, gross profit was up from $19.16m to $27.33m.

As TradeWinds reported in January, the delivery of eight newbuildings during 2013 helped Greenship pay an improved annual dividend of $8m.

John Fredriksen’s Golden Ocean was linked with a takeover of Greenship after its last bond issue.