Reports / March 04 2010

Annual Report 2009

Annual Report

Grieg amalgamates all its shipping activities, i.e. shipowning, market & commercial operations, technical operations & projects, and corporate services into one Group; Grieg Shipping Group. 2009 was as a surprisingly positive year for international dry bulk shipping, resulting in a fleet utilisation rate reaching above 90% by year end.

The Group’s fleet transported 13,5 million tons of cargo during 2009, of which 3,2 million tons was wood pulp. M/V Star Dover, built in 1977, was recycled at Xinhui Shuangshui Shipbreaking Yard, China. Grieg Shipping Group took delivery of M/V Star Kirkenes and M/V Star Kilimanjaro from Hyundai Mipo Dockyard & Co, S. Korea.

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