The Norwegian investor Endre Rosjo is boosting the fleet of the limited partnership R-Bulk.

The company, in which Rosjo has a 75% stake, has bought the Oshima built 50,000-dwt Yunga (built 2010), its annual report says.

UK based online platform VesselsValue says the bulker is worth 12.7m.

The purchase came during a profitable 2018 for R-Bulk. It booked a profit of NOK 10m ($1.2m) on revenue of NOK 85m.

It marked a return to the black for the shipowner, which booked a loss of NOK 2m in 2017.

Harward graduate Rosjo tells the Norwegian daily Finansavisen he expects the the bulker market this year will be about the same as last year.

He is the largest investor holding a 25% stake in Norway’s Maritime & Merchant Bank and is chairman.

In 2016 he made an effort to secure Western Bulk Chartering, but claimed he was not made able to make an offer.

R-Bulk has been a regular buyer of supramax vessels with the 50,000-dwt Ocean Promise (built 2010 renamed Yunga) added in 2017 for $11.9m.

In an off market deal, R-Bulk bought the 50,000-dwt Zebra Wind (built 2009 renamed Cygnus), for $12.5m last December.

R-Bulk's fleet is operated by Bergen-based Seven Seas Carriers, which sold two of its own vessels, the 50,000-dwt Saturnus and Serpentine (both built 2008), to Frode Teigen’s Lighthouse Shipholding in 2017 for $11.8m each.

Seven Seas today owns only one vessel, the 53,000-dwt bulker Vela (built 2007).