Norwegian shipowner JJ Ugland has logged better earnings for 2021 as the latest generation of the Ugland family took over.

The privately held operator of 36 bulkers, tankers, barges and offshore vessels revealed in its annual report that Ebitda was NOK 272m ($27.4m), up from NOK 85m in 2020.

Revenue grew to NOK 928m from NOK 899m in better markets.