Wenaas has cut its shipping losses, posting a pre-tax loss of NOK 26m ($3.25m) for 2016, compared with a NOK 99m loss in 2015.
At the end of last year, it had a negative book equity of NOK 91m.
Shipping is no longer a prime focus of the diversified group, which owns almost 50 hotels in Norway.
But Wenaas Shipping chairman and group owner Lars Wenaas says the group is prepared to support its shipping subsidiary with additional financing and would consider converting debt to equity to strengthen its position.
