Norway's Utkilen has reported growth in profit as the chemical tanker owner continues to renew its fleet with newbuildings.
In its recently released annual report, the company posted pre-tax profit of €16.2m ($18.1m) for 2018, up from €13.8m in 2017.
Revenue increased from €58.4m to €64.8m, while the company completed the year with book equity of €127.3m.
The board said that the financial position of the Bergen-based group “is satisfactory”.
