The Nasdaq-quoted bulker owner on Tuesday reported a gain of $221,000 for the three months to 30 September, versus a loss of $168,000 in the comparable stretch of 2013.

Excluding one-off items the adjusted result amounted to a loss of $2.2m or $0.03 per share, which means the operator topped Wall Street’s consensus forecast by two cents.

Star Bulk, which is based in Athens, controlled 31.5