Bulker owner Winland Ocean Shipping Corp increased profitability in the third quarter at a time when many of the big Chinese operators are losing money.

Dalian based Winland achieved a $3m bottom line profit compared to $1.6m through the same period of last year. The result was also an improvement on the second quarter of this year when the profit was $0.8m.

The Fon Tai is part of Winland's fleet modernisation project.