US-listed Seanergy crossed into profits in the first quarter of the year, supported by rising iron ore business for its big bulkers.

The pure-play capesize owner reported a net income of $10.2m between January and March, compared with a loss of $4.2m in the same period of 2023.

This was the company’s biggest-ever profit for a first quarter, chief executive Stamatis Tsantanis said before announcing a dividend of $0.15