Maersk Product Tankers achieved its best annual result on record in 2020, following a series of vessel sales and strong freight rates during the first half.

The Denmark-based owner’s net profit amounted to nearly $161m last year, compared with $92.4m in 2019, according to its annual report.

“We look back on a year defined by a health pandemic that shook all corners of the globe, leaving an indelible mark on people and society,” chief executive Christian Ingerslev said.