Castor Maritime has bettered its half-year bottom line amid a first-quarter New York debut.
The Petros Panagiotidis-led company reported a $0.33m income versus a $0.17m profit during the first six months of 2018.
Revenue came in at $2.04m, up from $1.7m, on the back of slightly higher average charter rates of $10,843.
Voyage costs fell to $902,061 from $955,725, helping operating income improve to $317,804 from $172,759.
"We believe that the dry bulk market will be rewarding in the years to come despite the normal shorter-term volatility exhibited," chief executive Petros Panagiotidis said.
"In this context, we are focused on taking advantage of market opportunities in order to maximize our profitability and opportunistically enlarge our fleet.”
The Nasdaq-listed stock is reacting favourably to earnings, jumping 62% to $6.85 in early-morning trading.
Castor Maritime began trading on the Nasdaq Capital Market 11 February under ticker symbol CTRM.
