Norway's EGD Holding has reported stronger results for 2020.
The diversified Bergen-based company, which controls a fleet of tankers, saw its pre-tax profit increase to NOK 116m ($14.1m) last year, up from NOK 104m in 2019.
Revenue rose even more, reaching NOK 1.64bn in 2020 from NOK 1.33bn a year earlier.
EGD is controlled by fourth-generation owner Espen Galtung Dosvig, 48, and concentrates in shipping, real estate investments and finance.
Last year, revenue from product and chemical tankers accounted for 38% of the company's total income.
In January 2021, subsidiary EGD Shipholding increased its chemical tanker fleet, buying the 33,000-dwt Liberty and Argent Bloom (both built 2009) for a reported $38m in total.
EGD has since confirmed the purchase of the Kitanihon Shipbuilding-constructed vessels but declined to comment on the price of the deal. It is still awaiting delivery of the Argent Bloom.
The ships add to the company's fleet of six product and chemical tankers that are operated by Champion Tankers in Bergen, according to VesselsValue.
Including the two most recent acquisitions, the company's owned fleet is worth more than $104m, the valuation platform estimates.
EGD also has a minority share in three tankers owned by Utkilen and three LPG vessels controlled by Tailwind. The company typically fixes out its vessels for one to five years or operates them in pools.
The company last sold a vessel in October 2019, when it offloaded the 46,000-dwt Nina Victory (built 1997) to Russian interests.
