Wilh Wilhelmsen "took a beating" in the fourth quarter according to its chief executive, posting a NOK 345.7m ($40m) loss.
The Oslo-traded company said maritime services did well, but marine services took a hit and "a substantial change in fair valuation of the group's investments".
Analysts at DNB Markets said while impairments at Survitec took the net loss to $41m, deeper than the $31m profit forecast, operating numbers were ahead of forecasts.
