Norway's diversified Umoe Group is suffering huge losses in its renewable business, investments in Brazil and restaurants in Norway, but its shipping operations remain unaffected affected.
Veteran owner Jens Ulltveit-Moe, 77, is still involved in shipping through a partnership with Knutsen OAS in Haugesund on a number of LNG carriers that are on long-term charters.
Ulltveit-Moe says the situation for the subsidiary Umoe Gas Carriers is "business as usual."
