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Reports / March 01 2020

Annual Report 2019

Annual Report

Improved market conditions and reduced costsin the Group’s main business segment, contributed to a stronger result in 2019, as open hatch freight earnings ended up close to initial expectations for the year.

The conventional dry bulk activities were, on the other hand, hit by weaker spot markets, resulting in lower earnings and results compared to 2018. The green service and recycling business continued to grow and contributed noteworthy to the Group’s 2019 bottom line. Also, the financial portfolio had a good year return-wise. Although most business areas improved in 2019, Grieg Star still recorded a deficit, albeit less than in the previous year. More positive is the Group’s liquidity development, as liquid assets remained intact from 2018 to 2019.

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