Pandemic and ship value write-down leads Grieg to $105m loss

Norway's Grieg Group lost NOK 878m ($104.9m) before taxes in 2020 but chairman Elisabeth Grieg says 2021 is looking better.

Pandemic conditions, a massive $83.3m write-down on the value of open-hatch bulkers, and a dramatic year for the shipbroking network all took a toll.

"Financially, 2020 will end as an abnormal year,” chairman Elisabeth Grieg said in announcing the results.