Impairments send Topaz Energy into big deficit

Dubai-based Topaz, which has the Caspian Sea as its key market, suffered a USD 64.4 million deficit after a major fleet impairment and costs related to debt refinancing.

BY OLE ANDERSEN

A fleet impairment and costs related to debt refinancing pulled Dubai-based supply carrier Topaz Energy and Marine into the red with a deficit of USD 64.4 million on the bottom line for the full year 2015, according to the company's annual report, published Tuesday.

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Impairments send Topaz Energy into big deficit

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Topaz lands five-year contract with BP for 14 vessels

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Sign up for our newsletter

Front page now

Maritime & Merchant notes fierce competition in loans for shipping

14 arrested at demonstration in front of Maersk headquarters

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Record influx of container ships this year will not cause trouble until 2025

Cosco and CMA CGM expect further pressure on major European ports

Kuehne+Nagel triggers unrest among staff with new management structure

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Less than one percent of the container fleet is currently idle

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Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Analysis: Capesizes have become too expensive despite strong market

Jobs