Norway's Western Bulk Chartering is expecting record earnings in a volatile 2021.
The Oslo-listed company said net profit to 31 December should be between $75m and $80m, boosting its dividend capacity.
This is up by $10m to $15m from the guidance given in November, and $30m to $35m higher than August's forecast.
Entering the second half of 2021, the company said it benefited from a rising market with "an overweight of tonnage commitments compared to cargo".
"The focus on short-term market exposure has allowed [us] to quickly turn positions and benefit from the recent market decline," it added.
High levels of market volatility have allowed for more profit-generating opportunities, it explained.
Data-driven decisions have also helped the bottom line.
New dividend policy
An unspecified dividend for 2021 will be paid out in April.
After the first quarter of 2022, Western Bulk intends to implement a quarterly dividend policy of a minimum 80% of earnings.
"The continued solid performance and a record year ... provides confidence that we have built a strong team, a reliable brand and a business model well fit for the high market volatility within the shipping industry," said chief executive Hans Aasnaes.
Western Bulk listed on Oslo's Euronext Growth exchange in September.
Its shares have been registered on Oslo's over-the-counter market for unlisted securities since 2017 and the company has more than 200 shareholders.
Its predecessor company, which had the same name before becoming Bulk Invest, was listed on the Oslo Stock Exchange until its bankruptcy in 2016.
