The Norwegian shipping group Grieg Maritime actually wanted to become a relevant player in (European) ship recycling. But the plan has failed. There is a lack of competitiveness.
“After a prolonged period of difficult market conditions, we have decided to discontinue our recycling and ESG consultancy services,” the Grieg Green division has now announced.
Grieg is known for its shipping division, the Grieg Edge project and the G2 Ocean joint venture, among other things. Several newbuildings with innovative drive technology are also planned. The “Logistics” subsidiary was sold to Inchcape last year.
It had been an “important player in promoting the recycling industry”. The aim was to show that it is possible to recycle maritime equipment in a sustainable and responsible way. In the end, however, the Norwegians had to realize that it was not a commercially successful venture. “Having accomplished this mission, we see that it is becoming increasingly difficult for high-quality service providers like Grieg Green to remain competitive,” the statement said.
“We have examined various scenarios over the past few months and have come to the conclusion that it is right to discontinue these activities. We are proud of what Grieg Green has achieved and thank the team and partners who have been part of this journey. The decision is difficult, but we have to make it,” said Matt Duke, CEO of Grieg Maritime Group and Chairman of Grieg Green.
