Net earnings to 30 June were $136.6m, against $37.9m in 2013, in line with analysts’ expectations.

Revenue grew to $53.6m from $31m over the same period.

It was boosted this year by one-off gains of $127.6m, $75m of which was from selling five bulker newbuildings to sister outfit Knightsbridge tankers.

It also banked $35.9m from cancelling a newbuilding contract at China’s Jinhaiwan shipyard and $16.9m