Pan Ocean has seen its profit for 2016 more than double as its rehabilitation plan seemed to bear fruit.
The South Korean owner reported net earnings of $83m in the 12 months of last year, compared to $34.1m in 2015.
Its sales stood at $1.62bn, a marginal increase of 0.7%, while its operating profit slipped from $196.3m to $144.8m.
Pan Ocean said the group recognized the profit and loss from debt restructuring including a debt-for-equity swap.
The
