Crisis-stricken Dof books new million-dollar losses on fleet

Strained Dof, which is trying to settle a rescue plan with its lenders, once again had to impair the value of its fleet in the third quarter. The offshore company has now booked impairments totaling close to USD 329 million in 2020.

Photo: PR/Dof

A severely strained market for supply ships now has Norwegian offshore supply operator Dof booking new major losses on its fleet.

Most recently the strained offshore company, which is trying to land a rescue plan with its creditors, had to book a NOK 667 million (USD 73.1 million) impairment in the third quarter. The majority of which is booked on the company's subsea fleet.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Employee at Bunker Holding subsidiary charged for alleged corruption

A trader at KPI Oceanconnect, a subsidiary of Bunker Holding, has been charged with alleged corruption totaling at least USD 191,250 as rewards for nominating Straits for the supply of bunker fuel to KPI's customers. The employee has been suspended and his contract terminated, the company informs ShippingWatch.

Freight rates for furniture eat up almost entire profit

The price of shipping a 40-foot container with assembled furniture from Asia to the US West Coast is currently so high that freight rates make up almost 100 percent of the furniture's retail value, according to Sea-Intelligence.

Wallem Group appoints new CEO

Wallem Group appoints interim CEO since January 2021 as the new chief executive officer of the ship management company.

Further reading

Related articles

Trial banner

Latest news

See all jobs