UK shipping fund Tufton Oceanic Assets has posted a big jump in earnings for the second half of 2021 as its vessel portfolio rose in value.

The London-listed company said net profit to 31 December was $72.2m, or $0.253 per share, against $29.1m in the same period of 2020.

The net asset value (NAV) per share increased from $1.158 on 30 June to $1.376