Norway’s ship recycling services company Grieg Green has closed its activities as of Tuesday amid market shifts.
Grieg Green, owned by Grieg Maritime Group AS (part of the Grieg Group), has decided to close its recycling and ESG advisory services, citing challenging market conditions.
The Bergen-based company said that after an extended period of challenging market conditions, it has decided to close its recycling and ESG advisory services.
“Our purpose was to show that it was possible to recycle maritime assets in a sustainable and responsible manner,” the company said in a statement. “With this mission completed, we see that it is increasingly difficult for high-end service providers like Grieg Green to remain competitive.”
Matt Duke, CEO of Grieg Maritime Group and chair of the board in Grieg Green, said the group had explored various scenarios the last months before deciding to close.
“We have looked at different scenarios throughout the last months, and found that the right thing to do is to close these activities down,” Duke noted, adding: “We are proud of the difference Grieg Green has made and thank the team and partners who have been part of that journey. Though the decision is difficult, it is one we must make.”
