Western Bulk Chartering Group recorded a net profit after tax of $5 million for the full year of 2025. The company more than doubled its net time charter (TC) revenue for the second half of the year to $20 million, compared with $9 million during the same period in 2024.
The group stated that dry bulk markets recovered in the second half of the year following weak conditions earlier in 2025. Market rates strengthened through the summer and into early autumn, according to Western Bulk.
Western Bulk indicated that this recovery was driven by strong Atlantic grain flows and improved coal demand in China. It also noted that resilient steel exports from Asia contributed to the market upturn.
The group reported it was well positioned to capture this improvement through its exposure to the Handy, supramax, and Panamax segments. Chief Executive Officer Torbjørn Gjervik said, “Overall, the market last year was not easy to trade, but we stayed disciplined and delivered solid results.”
In December, the company re-entered ship ownership with selected partners. Gjervik stated that Western Bulk, "took a strategic step," to position the group for the next phase of the market cycle.
Looking toward 2026, Western Bulk said it is focused on pursuing opportunities and partnerships. These efforts are expected to involve both personnel and asset developments, according to the company.
The company declared a dividend of NOK1.21 ($0.11) per share, totaling $4 million. The ex-dividend date is scheduled for February 16, with the record date set for February 17.
Western Bulk confirmed that the final payment of the dividend will occur on February 25. The full-year results follow a net profit of $7 million specifically for the second half of 2025.
