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Norway's Ulstein Group books another large deficit

Ulstein Group reports another triple-digit deficit in NOK, according to several Norwegian media. The yard group has lost NOK 1 billion since 2015.

The low newbuild activity in offshore continued to hurt Norwegian shipbuilder Ulstein Group in 2017, which finished the year with another major deficit on the bottom line.

According to several Norwegian media, the yard group lost NOK 360 million (USD 44.2 million). In comparison, the yard lost almost NOK 530 million in 2016, and according to Dagens Næringsliv the company has thus lost NOK 1 billion since 2015, when the offshore crisis started to really impact the results.

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