June 3 - Blue Water Shipping posted an 11 percent increase in turnover and an 80 percent increase in total profit in 2014, compared with 2013.

Blue Water Shipping achieved a total turnover of DKK4.98 billion (USD742 million) in 2014, which represents a DKK497 million (USD74 million) increase over 2013. The company's profit before tax was DKK63 million (USD9.3 million), compared with the DKK35 million (USD5.2 million) in 2013.

"We are extraordinarily satisfied with the fact that approximately 80 percent of our growth is organic, as it means that we are indeed reaping the fruits of our strengthened organisation," said Blue Water Shipping managing director Kim Hedegaard Sørensen.

"The result shows that we are on the right track in relation to our plans for improved earnings performance through increased synergy and cooperation in the entire organisation," said Sørensen, adding that he expects the result for 2015 to be at least the same level as 2014.

Over the next one or two years, Blue Water Shipping says it will focus on increasing market share in Norway, Sweden and Finland, as well as targeting new clients within the general road, sea and airfreight sectors.