Golden Ocean reports small profit for Q3

Dry bulk carrier Golden Ocean achieved a profit of USD 400,000 in the third quarter, shows the interim report Tuesday morning. The carrier has implemented a series of initiatives aimed at maximizing utilization of the market, says CEO Birgitte Ringstad Vartdal.

Photo: Golden Ocean

The early fall months have reminded several dry bulk carriers what it feels like to turn a profit, though most of these profits clock in at the lowest end of the scale.

Golden Ocean becomes the latest carrier in line with a net profit of USD 400,000, according to the third quarter interim report published Tuesday. In the same period last year, the carrier lost USD 26.7 million. The adjusted operating profit (EBITDA) came to USD 40.4 million against USD 8.6 million in the third quarter 2016.

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