China's Chang Jiang Shipping Group Phoenix is forecasting a jump of between 198% and 269% in first quarter earnings.
The bulker owner sees net profit to 31 March of at least CNY 12.5m ($2m), and possibly as much as CNY 15.5m.
This compares to earnings of CNY 4.2m in 2017.
Phoenix has previously said the coastal dry bulk market had improved through 2017.
