Bermuda-registered dry bulk shipping company Golden Ocean Group Ltd. yesterday reported net income of $5.2 million and earnings per share of $0.02 for the fourth quarter of 2006.

Full-year profits for 2006 totalled $35.7 million, breaking down to earnings per share of $0.14. Total operating revenues were $270.3 million, total operating expenses were $220.5 million and net other expenses were $17.9 million.

“Growth will remain the focus area of the board of Golden Ocean,” announced the company in a statement yesterday. “Given the positive market outlook in combination with strong earnings already secured, a strong cash flow is expected over the next two years.”