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30/07/2018at 15:21

Subsea 7's bottom line down almost 50 pct in Q2

The Luxembourg-based offshore shipping company saw its bottom line decline significantly in the second quarter with fewer finished projects and lower prices. But the number of new orders in the market has increased, says CEO Jean Cahuzac.
Photo: Subsea 7
Photo: Subsea 7
by SØREN PICO

Subsea 7's bottom line dived in the second quarter, as fewer major projects were finished, prices on new contracts were lower and activity within renewables and heavy lifting performed worse than last year.

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Maersk CEO Vincent Clerc (left) and MSC CEO Søren Toft are following very different strategic directions. | Foto: Jacob Gronholt-pedersen/reuters/ritzau Scanpix og Jason Decrow/ap/ritzau Scanpix
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Krisen på fragtmarkedet styrker DSV's position i forhold til rederierne: ”I og med at vi er en af de store aftagere af søfragt, har vi også et samarbejde med rederierne, som er strategisk og forankret i direktionen,” siger DSV's topchef, Jens Bjørn Andersen. | Foto: Lars Krabbe/Foto: Lars Krabbe/Ritzau Scanpix
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Further reading

Foto: Norges Rederiforbund/Norwegian Shipowners' Association
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Foto: Zhang Ke/AP/Ritzau Scanpix
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