GoodBulk shored up its bottom line during the second quarter with a string of vessel sales made in what it described as a strong sale-and-purchase market.

The shipowner, which has its shares registered on Oslo’s over-the-counter market, recorded a net profit of $25.9m, which equated to $0.86 in earnings per share.

This compares with a profit of $20.6m in the same period of last year, when earnings per share were $0.69.