Pangaea Logistics saw its fourth net income soar as the dry bulk market returned to growth.
The New York-listed company reported net income of $4m for the fourth quarter compared to a year-earlier figure of $100,000. The gains came as total revenue reached $102.2m, up from $66.3m in the year earlier period.
Chief executive Ed Coll says the company went through "the toughest dry bulk market the industry has ever experienced in excellent shape."
