CEO's perspective

This year the Grieg Group is 130 years and Grieg Star, being an important part of our Group, has been in operation for more than 50 years, quite an achievement both in absolute and relative terms. In order to survive and prosper for such a long time it is essential that one has the strength and willingness to endure some rough markets.


Directors report

Finding innovative solutions and making technologic progress is essential to business success. Consequently, the Group decided in 2013 to establish a “Forum for Innovation“ to aid transforming improvement ideas into sustainable solutions. By adopting a systematic and practical approach, the aim is to realize the potential of bringing together creative and forward-looking minds from across the organization.


Key Figures

Grieg Star’s result for 2013 was better than expected, given slow recovery in global growth and continued weak shipping markets. By delivering a result before tax of USD 22m, based on healthy returns on its financial portfolio and USD 59m in EBITDA from a shipping operation counting 46 vessels, Grieg Star remains solid and well positioned for the anticipated market recovery.