Subsea 7 expects more work in coming months

Offshore company Subsea 7 reports of an improved market in the first quarter, and the British company expects more orders out for tender in coming months.

Photo: PR / Subsea 7

Offshore installation company Subsea 7 pulled the bottom line into the black in the first months of the year, and the company sees an improved market with more orders out for tender in coming months.

The Britisih company's unaudited net profit came to a profit of USD 1 million against a deficit of USD 38 million in the first quarter of 2020, writes the company in a financial statement Thursday.

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