Singapore’s Grindrod Shipping has booked a second-quarter net income of $53.3m in what it describes another record quarterly performance that reflects the resilient markets in the handysize and to ultramax bulk carrier segments.

Combined with its first quarter earnings, Grindrod has earned a net profit of $83.1m on revenue of $271.9m during the first half of its 2022 financial year.

Stephen Griffiths, Grindrod’s interim chief executive officer and chief financial officer said the dry bulk market remained healthy in the second quarter of 2022, despite the ongoing Russian-Ukraine conflict and disruptions in traditional trade routes.