Singapore Shipping closed out last year on a high note as its profit for the fourth quarter and all of last year grew from a year earlier.

The Ow Chio Kiat-led car carrier owner posted net income of $2.57m versus net income of $1.61m.

Revenue came it at $11.4m, up 10% from the same period last year as the company's agency and logistics segment "continued to enjoy higher business volume," Singapore Shipping said.