Record year for Oslo Shipbrokers in face of tough competition

Norway's Oslo Shipbrokers had a record year in 2017, leaving managing director Paal Jan Norenberg delighted with his company's performance in the face of tough competition.

The broker generated a profit margin of more than 50%, according to its annual report.

Oslo Shipbrokers recorded a pre-tax profit of NOK 15m ($1.8m) last year, the same as in 2016, while revenues were stable at NOK 31m.