Canceled contract costs Ocean Yield USD 68.5 million

An impairment on an FPSO vessel weighs down on the third quarter result for shipowner Ocean Yield. The company's bottom line dropped USD 68.5 million between the second and third quarters.

Photo: Ocean

Norwegian shipowner Ocean Yield had a rough third quarter in 2019, which was marked by setbacks on both the top and bottom lines.

Revenue declined to USD 66.3 million against USD 94.9 million in the third quarter 2018, according to the interim report.

Read the whole article

Get 14 days free access.
No credit card required.

  • 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

Norden reshuffles management and dials up growth ambitions

Norden establishes a new business structure and a new senior management team. This will entail increased growth in the carrier's tanker pool and investments in port logistics for an annual USD 20-40 million, CEO Jan Rindbo tells ShippingWatch.

Further reading

Related articles

Latest news

See all jobs