The family of Norway's Otto Gregard Tidemand have seen their dry-bulk operations return to profitability after years of heavy losses.
Thanks to the surge in rates, Stove Shipping and Eastern Bulk have reported a combined pre-tax, pro forma profit of $12.7m on operating revenues of $131.6m.
About 88% of the revenue comes from the bulkers operated by Eastern Bulk.
In 2016, the two companies lodged separate reports.
