Swedish shipping giant Stena AB has recorded its best ever result as tanker and ferry operations improved.

The company, controlled by chief executive Dan Sten Olsson, said Ebitda for the first nine months of the year was a record SEK 10.55bn ($1bn), up from SEK 6.12bn in 2021.

The group began shipping operations in 1946, when Olsson’s father, Sten Allan Olsson, bought his first vessel with a loan of SEK 25,000 from Handelsbanken.