Bermuda-registered company said.

For the three months ended September 30, the shipping company netted $3 million compared to a loss of $2.1 million for the same quarter a year ago.

"The increase was due to improved freight rates for all segments, except for the large range product carriers, as well as to an expanded fleet,'' said Bona.

Bona's profit over the three quarters since January 1 totals $8.4 million compared to a loss of $3.2 million.

The acquisition of Smedvig Tankships Ltd., also Bermuda-registered, shares is not reflected in yesterday's figures as the takeover bid occurred after the end of third quarter, Bona said.

Earlier this month, Bona acquired 77.25 percent of Smedvig's shares and plans to make an offer for all outstanding shares.

"The acquisition will significantly increase Bona's exposure in the medium sized tanker segment and make Bona one of the world's largest operators in the aframax sector,'' Bona said.

Smedvig owns 7.5 aframax tankers, 50 percent of two suezmax tankers and one ULCC, said Bona.

Bona's third quarter time charter income was $27.3 million compared to $17.9 million for the same quarter a year earlier.

Freight revenues rose to $36 million from $25.3 million while voyage expenses increased to $8.7 from $7.4 million.

Total assets rose to $513.1 million from $405.2 million a year earlier. Net asset value at September 30 was $322.5 million, $11.30 per share, up $20.7 million from the end of June.

The company is predicting the weaker dry bulk carrier market to continue into next year.

And the improvement in tanker rates that took place during the summer has abated partly due to a lapse in tanker scrapping after the improved rates.

"However, Bona expects tanker rates to pick up toward the end of this year with further improvement in 1996 due to increased demand.''