Topaz' growth engine losing steam

Offshore carrier Topaz experienced a decline in the 2nd quarter 2014, a development especially attributed to the fact that the carrier's growth market, the Caspian Sea, has been flat, while several ships have been in dry dock.

BY KATRINE GRØNVALD RAUN

Offshore carrier Topaz Energy and Marine, which has its wallet out these days, experienced a decline in the 2nd quarter 2014 when looking at the net result. Here the company finished the quarter with a net profit of USD 12.7 million, compared to USD 17 million in the same period 2013. The consolidated revenue also decreased, by 5.6 percent, to USD 95.9 million.

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Front page now

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

A simple reason could explain low dry bulk rates despite good demand

Dubai challenges Singapore as shipping's favorite city

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John Fredriksen has increased his wealth by NOK 81bn this year

Hapag-Lloyd rolls out Starlink internet to entire fleet

European Energy gets new partner for methanol plant

CMA CGM and Maersk will need help in new green lobbying alliance

Habben Jansen calls on energy majors to do more for the green transition

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Chief executive: Bolloré acquisition will transform Ceva's air cargo business

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Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

Cosco to build production chain for green methanol

Hapag-Lloyd were in talks to acquire state-owned port company

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