LONDON (Bloomberg) — Golden Ocean Group Limited, a commodities-shipping line led by Norwegian billionaire John Fredriksen, said second-quarter profit more than doubled as freight rates soared.

Net income rose to $25.6 million, or 9 cents a share, from $10 million, or four cents, a year earlier, Bermuda-based Golden Ocean said yesterday in a statement to the Oslo stock exchange. Revenue rose by 75 percent to $124.7 million.

Golden Ocean shares dropped 0.15 kroner, or 0.6 percent, to 23.45 kroner in Oslo.