Taiwan Navigation, Taiwanese bulker owner, said net earnings to 30 September were TWD 44.94m ($1.44m).
Revenue from its 31 ships rose to TWD 744.2m from TWD 732.5m, but expenses were TWD 670.2m, compared to TWD 624.5m the year before.
Taiwan Navigation has two 60,000-dwt bulkers on order in Japan for delivery next year.
Dry Bulk Shipping News - Shipbroker Notes