Female employee smiling in workwear at a boat - Malin Haugen, Grieg Green
Reports / April 16 2021

Annual Report 2020


Challenging and disrupted markets affected our overall financial performance in 2020, and our results are not at all what we predicted. Covid-19 influenced all parts of our organization, primarily as a result of market changeover in seafood and disruption in the maritime industry.

Despite a challenging year, Grieg Maritime Group has indeed been able to find new and creative ways of working. Conducting remote operations, keeping the wheels turning, and fighting for decent working conditions for our crew members who had to be on board our ships for an unacceptable long time. I am proud we have committed ourselves to the “Neptune Declaration”, stating the crew members and seafarers are critical workers.

Covid-19 has had a significant impact on almost all of our maritime activities, but Grieg Green impressed us all by conducting remote IHM-operations in partnerships with crewmembers and shipyards worldwide. Luckily, Grieg Green could almost do business as usual despite the pandemic.

With the establishment of Grieg Edge, we are indeed moving forward into the green shift. The company was granted funding from the Norwegian funding scheme Pilot-E in December and aims to build the world’s first ammonia-fueled tanker in cooperation with Wärtsilä. I am proud of our commitment to pillars of sustainability and advanced technology.

As a salmon farming pioneer, Grieg Seafood has taken several essential and necessary steps the past year. Managing disrupted and challenging markets, they demonstrate a long-term perspective within the industry, establishing a new in-house sales organization, focusing on partnership and sustainability, improving fish welfare, and reducing their impact on the environment.

Greig Kapital celebrates the end of 2020, delivering their best result ever. Grieg shipbrokers has a new interim management team and has sold their Asia-activities to grow core business at home. Grieg Logistics is investing in new business, providing cutting-edge technology to ports across all of Scandinavia.

By looking at our activities during the past year, I am convinced that all Grieg Group companies are in good shape for the days to come.

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