In a rare example of a Vietnamese owner performing an asset play, Haiphong-based Viet Long JSC has pocketed a tidy US$1m profit from a quick bulker turnaround.

The Southeast Asian owner bought the Bianco Venture handy bulker at the start of the year for US$5.2m. The Oshima-built ship, rechristened Great Pride, has now been bought by Hong Kong's Taylor Maritime for US$6.2m, according to brokers.

Founded by Edward Buttery two and a half years ago, Taylor Maritime has quickly built up a fleet of Japanese handies.