Western Bulk Chartering returns to profit and reinvests cash in growing business

Western Bulk Chartering has had a profitable first half of the year on the back of improved margins on its operated vessels and intends to reinvest in growing its business.

The Oslo-listed bulker operator will not pay an interim dividend to shareholders and said it will use its cash as working capital for volume growth.

The company reported a net profit before tax of just under $3m for the period, up from a loss of $4.39m