Songa Offshore delivers best operating result in three years

Norwegian-Cypriot Songa Offshore delivered a net result of USD 1.4 million following a major impairment in the first quarter of the year. A strong quarter, says CEO.

Photo: Songa Offshore

Offshore company Songa Offshore achieved a revenue of USD 154.7 million in the 1st quarter 2014, and the company presented an operating profit (EBITDA) of USD 65.3 million, according to the company's interim report, published Monday.

Songa Offshore's net result came to USD 1.4 million, following a USD 24.7 million impairment related to the two rigs Songa Mercur and Songa Venus.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
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

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs