The Malaysian shipowner made a profit of just over MYR 2m ($630,000) against a loss of MYR 163.2m in the same quarter of 2013.

The year ago period was impacted by provisions for impairment of MYR 154.2m.

Revenue for the quarter was up 3% to MYR 92.1m, while expenses for the same period were down 6.5% to MYR 82m.

“The dry bulk shipping sector continues to look promising with our year to date fleet enjoying full capacity.