Dof exits 2020 with massive deficit – rates are too low to handle towering debt

Offshore ship operator Dof is in protracted talks for a long-term restructuring, and the continuing weak market increases the risks of even bigger losses for the company.

Photo: PR/Dof

Norwegian offshore shipping company Dof reports a rare profit for the last three months of the year, though this was far from enough to salvage the full year, with finished with a deficit of more than half a billion dollars, shows the interim report.

For the fourth quarter 2020, Dof delivered a profit of NOK 238 million (USD 28.5 million), which was a significant improvement from the same period the year before, where the company lost more than NOK 500 million.

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