Wilhelmsen books major loss and expects setback at Norsea

Norway's Wilh. Wilhelmsen is impacted by an impairment at subsidiary Hyundai Glovis, which transports cars. The Norsea group also expects reduced activity.

Photo: PR / Wilh. Wilhelmsen

Shipping group Wilh. Wilhelmsen notifies of a loss of USD 165 million at subsidiary Treasure, which owns part of South Korean car carrier Hyundai Glovis.

The loss comes on top of temporary dismissals of several hundred employees as well as other initiatives resulting from the outbreak of coronavirus.

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