Western Bulk Chartering has bought and sold an ultramax bulk carrier in a deal that will generate a profit of just under $5m.

The Oslo-listed operator said it has exercised a purchase option on the 63,500-dwt Western Oslo (built 2019) to buy the ship from Nisshin Shipping on undisclosed terms.

Soon after, it said it sold the vessel to unnamed buyers and expects to realise $4.5m