Norway’s Knutsen OAS Shipping has achieved record results in healthy gas and tanker markets.

Accounts reveal the Seglem family’s private shipping empire, based in Hausesund, produced net profit of $626m in 2022, against $560m the year before.

Revenue passed $1bn for the first time at $1.02bn, up from $880m in 2021.

Earnings from the Knutsen NYK Offshore Tankers (KNOT) shuttle tanker fleet owned 50% with Japan's NYK came in at $320m, against $287m 12 months earlier.