SEOUL-- PanOcean Co., South Korea's leading bulk carrier, said Tuesday that its third-quarter operating income surged 42 percent from a year earlier on increased sales.

Operating income reached 52.2 billion won (US$46.7 million) in the July-September period, compared with 36.8 billion won a year earlier, the company said in a regulatory filing.

Sales also soared 25 percent on-year to reach 584 billion won in the same period.

In the first nine months of the year, its operating income advanced 21 percent on-year to 142 billion won, with sales rising 28 percent to 1.74 trillion won over the cited period.

The shipping firm attributed the sharp rise in operating income and sales to increased transportation of iron ore, coal and grain to and from China.

Source: Yonhap News Agency