It said net earnings last year were SEK 133m ($20.23), from SEK 213m in 2012.

But the taxman took SEK 45m, compared to a gain of SEK 40m the year before.

Operating profit increased to SEK 172m from SEK 132m as the shipping business turned in a positive performance, it said.

Revenue rose to SEK 1.84bn from SEK 1.81bn.

It wrote down its fleet value by SEK 26m over the year.