The conservative strategy of tradition-rich Norwegian shipowner Lorentzens Skibs appears to being paying off with rising profits and stronger reserves.
The diversified Oslo-based shipowner has reported another profitable year in 2019 with pre-tax profits increased to NOK 49m ($5.5m) from NOK 42m a year earlier.
Meanwhile, the company's book equity increased to NOK 374m ($41.5m), according to the annual report for 2019 for the private company which has just become publicly available.
