Caution is the watchword at Taiwanese owner Courage Marine as is posts a larger full-year profit despite an “unstable” dry-bulk market.



The Singapore-quoted owner warned that the market has “not fully recovered” but also pointed at a more optimistic view from Deutsche Bank.

Chairman Hsu Chih Chien.

“The dry-bulk market has not fully recovered and was unstable in the past few months,” a bourse announcement read on Friday.



“The