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.

BY DANIEL LOGAN

Published: 30.05.18 at 12:57

In the first three months of the year, BW Offshore saw returns on its new FPSO vessel BW Catcher, which in December began to deliver earnings on a billion dollar contract with Premier Oil.

Earnings from the new vessel helped boost the FSPO operator's revenue to USD 192.5 million from USD 159.6 million in the first quarter of 2017.