ShippingWatch

BW Offshore books loss in tough market

BW Offshore's revenue and earnings have dropped significantly in the past year. The market is challenged, and so are the customers, notes the company, which has secured padding through a large financing agreement earlier this year.

BW Offshore emerged from the second quarter with a drop in revenue as well as earnings.

Revenue for the company, which operates a fleet of FPSOs  (floating production storage and offloading), came to USD 172.5 million in the second quarter this year, down from USD 243.7 million last year. The bottom line after the second quarter was negative, with a deficit of USD 4.4 million against, against a profit of USD 19.6 million in the second quarter last year.

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

Oil shipping states get loophole in EU's new Russia sanctions

In a new sanctions package against Russia, the EU cracks down on exporting the warring nation’s crude to third countries – despite protest from countries like Greece and Malta. Although several states are given leeway in new sanction demands the EU Commission otherwise considers ”water-tight”.

Further reading

Related articles

Latest news

See all jobs