Blystad's Songa Holding sinks into loss 'in difficult markets'

Songa Holding, the main private vehicle of Norwegian shipping investor Arne Blystad, has reported a sharp reduction in revenue and profit last year.

The company, which is involved in shipping, real estate and financial activities, logged a pre-tax loss of NOK 345m ($40.6m) last year against a NOK 502m profit in 2017, according to the company's annual report for 2018.