Read all the latest news about BW Offshore. ShippingWatch gives you independent, credible, critical and fair news.

BW Offshore increased its profit in 2018

Both the top and bottom line grew for offshore company BW Offshore in 2018. The shipping company sees signs of an improved market, in which a higher oil price is expected to result in extended contracts for ships.

BW Offshore targets new major contract in 2019

BW Offshore is betting hard to bag a new major contract for one of the shipping company's FPSO vessels next year. The overall trend is positive, but there are still significant fluctuations in offshore, CFO Knut R. Sæthre tells ShippingWatch.

New vessel pulls BW Offshore into the black

The offshore carrier improved its top and bottom line in the first months of the year, helped by a new vessel which began contributing to earnings. The company projects several new projects in the coming years.

BW Offshore expects stronger 2018

BW Offshore had a profitable 2017, producing first oil on a prestige project late in the year. The company has kicked off 2018 on a more solid platform and can benefit from a stronger market, says CEO.

BW Offshore scales back new investments

BW Group's offshore carrier BW Offshore maintained its hard-won profit on the bottom line in the third quarter, but the market remains strained going forward, says the company in its financial report.

BW Offshore finally in the black in second quarter

The BW Group's listed offshore carrier BW Offshore logged a net profit of USD 5.2 million and finally closed a quarter without a deficit for the first time since the second quarter 2015, shows the latest report.

BW Offshore helped by insurance money during rough year

The operating result for the full-year 2016 declined at BW Offshore. The setback was mainly due to losses and expenses related to the wrecked FPSO vessel Cidade de São Mateus. On the other hand, the insurance money from that accident compensates for some of the decline.

BW Offshore settles major insurance payment for fatal accident

Norwegian offshore carrier BW Offshore has, following protracted negotiations, reached agreement concerning its insurance arrangements for FPSO Cidade de São Mateus. The vessel was involved in an accident two years ago in which nine people were killed.

BW Offshore hit with new deficit in depressed market

Norway's BW Offshore suffered setbacks across the board in the third quarter where oil and gas markets are still being kept down by a low oil price. The company has also announced a reverse share split to ensure its place on the Oslo Stock Exchange.

BW Offshore books loss in tough market

BW Offshore's revenue and earnings have dropped significantly in the past year. The market is challenged, and so are the customers, notes the company, which has secured padding through a large financing agreement earlier this year.

BW Offshore heralds additional layoffs

Norway's BW Offshore plans to axe 35 percent of its onshore employees, and the cut positions will not come back, says the company's CFO on Friday, according to Dagens Næringsliv.

600 jobs cut among Norwegian offshore carriers

The crisis in the offshore industry is now showing its ugly side to the Norwegian offshore carriers, where 600 jobs have disappeared in just a few months. The crisis is worse than it seems, says one carrier according to Sysla.

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