Christen Sveaas' shipping investment company Kistefos has racked up bigger earnings in 2018 as ship sales boosted the result.

The company said it made NOK 1.78bn ($209m) on a net basis last year, up from NOK 341.1m in 2017.

Revenue grew to NOK 14.37bn from NOK 9.37bn, mainly due to gains from Viking Supply Ships selling vessels, as well as higher rate levels and activity in Western Bulk.