Precious profit jumps as arbitration continues over bulkers

Thailand's Precious Shipping has posted a return to profit for 2018 as it continues with arbitration over nine cancelled bulkers.

The company said net earnings were THB 456.2m ($14.53m) to 31 December, against a loss THB 129.48m in 2017.

Revenue from its 36 ships was THB 4.97bn, from THB 4.39bn, as average earnings rose from $9,486 per day in 2017 to $11,063 last year.