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BW Offshore liquidates subsidiary and expects new large impairment

Offshore ship operator BW Offshore has decided to liquidate a subsidiary with a floating production facility that has been without work for a long period of time. The ship's value is expected to be impaired to zero.

BW Offshore liquidates a subsidiary that covers FPSO BW Umuroa. | Photo: PR / BW Offshore

BW Group's offshore ship operator BW Offshore has decided to wind down a subsidiary that covers a floating production storage and offloading facility, FPSO.

The liquidation of the subsidiary, named BW Umuroa, means that BW Offshore expects to impair the remaining value of the ship from USD 21 million to zero, according to a stock exchange notice.

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