Private Norwegian owner and operator Torvald Klaveness has posted what it calls a “historic” profit for 2023 while retaining plenty of investment firepower.

The owner of Klaveness Combination Carriers (KCC), Klaveness Dry Bulk (KDB) and Klaveness Digital said net earnings last year were $88m, up from $65m in 2022.

Revenue dropped to $434m, from $477m, but voyage expenses fell to $238m versus $307m a year earlier.