Hesnes Group faces challenges in car carrier broking and open-hatch bulkers

Norway’s diversified Hesnes Group reported a drop in profits for 2019 as the company’s open-hatch bulkers continued to operate in a weak market.

The group's pre-tax profit last year dropped to NOK 20m ($2.25m) from NOK 36m in 2018.

Revenue fell from NOK 234m to NOK 191m. Hesnes had a book equity of NOK 494m at the end of 2019.