The bulker and tanker owner said net profit to 30 June was JPY 659m ($6.5m), from JPY 317m in the same period of 2013.

Revenue increased to JPY 2.12bn from JPY 1.06bn the year before.

The company is forecasting profit of JPY 450m for its current year, compared to an actual result of JPY 516m in the previous 12 months.