Norway's Grieg Group lost NOK 878m ($104.9m) before taxes in 2020 but chairman Elisabeth Grieg says 2021 is looking better.

Pandemic conditions, a massive $83.3m write-down on the value of open-hatch bulkers, and a dramatic year for the shipbroking network all took a toll.

"Financially, 2020 will end as an abnormal year,” chairman Elisabeth Grieg said in announcing the results.

Grieg Maturitas, the holding company she heads, reported an operating loss of NOK 555m on operating revenue of NOK 6.765bn