Weak currencies push Farstad into Q3 deficit

The weakening of Norwegian and Brazilian currencies have pushed the supply carrier into a deficit with a net loss of USD 50 million in the third quarter.

BY OLE ANDERSEN

The Norwegian supply carrier Farstad Shipping delivered a deficit of approximately USD 50 million after tax in the third quarter. According to the third quarter interim report, a large portion of the deficit was due to an unrealized loss of around USD 41 million as the currency weakened.

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Weak currencies push Farstad into Q3 deficit

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Maersk Supply Service to axe 200 employees

Farstad pulls another five ships from the market

Panalpina profit declines in the face of currency headwind

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Front page now

Royal Arctic Line's chief executive steps down

Seven Seas: Customers' green ambitions and actions don't align

Venture fund in Singapore wants increased business focus from start-ups

German bank to broker CO2 allowances to shipping customers

MSC chosen as strategic partner for ailing Spanish rail freight company

Grieg and Peak Group venture orders up to eight new vessels

First US bunkering terminal for LNG is on its way

Russian oil is trading closer to USD 100 than the G-7 price cap

Oil supermajor Saudi Aramco enters LNG

Norway increases support for developing countries' green shipping transition

Oil steady after technical resistance stalled blistering rally

It's time for DHL's new global head of ocean freight to prove he can be number one

Further reading

Media: Sale of DB Schenker enters next phase

It's time for DHL's new global head of ocean freight to prove he can be number one

German logistics company wants to grow 250 percent by 2030

Seven Seas: Customers' green ambitions and actions don't align

DSV's strategy could block acquisition of DB Schencker

German bank to broker CO2 allowances to shipping customers

Jobs