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Norwegian bulk carrier Grieg Star books major loss for 2017

Norwegian Grieg Group's dry cargo carrier Grieg Star exited 2017 with a major deficit, shows the firm's annual report. Two things impacted the past year for the Norwegian firm.

Photo: PR-foto/Grieg Star

Norway's Grieg Star took a beating in the tough dry bulk market during 2017, which saw major investments in the new dry cargo venture G2 Ocean that was launched last year, shows the annual report from Norwegian Grieg Group, of which the carrier is a part.

The new collaboration with the Jebsen family's carrier Gearbulk, concerning dry bulk firm G2 Ocean, will provide synergies in the long term that will benefit the owners, according to the carrier's expectations. All of Grieg Star's ships are now part of the new company's pool, which is especially big in dry cargo's open hatch segment.

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