Equity fund made big profits on separated OW company

The severely criticized equity fund in the OW Bunker case, Swedish Altor, made a good profit in 2014 on the company Wrist Ship Supply, which delivers supplies to the offshore sector and ships. The company increased its profits by 37 percent to USD 14.88 million.

Photo: Wrist

The equity fund Altor separated the company Wrist Ship Supply from now-collapsed OW Bunker one year ago. Wrist Ship Supply has now, for the fifth consecutive year, achieved a significant increase in both profits and revenue, says the company in a press release on Wednesday.

"In 2014, Wrist Ship Supply once again cemented its position as the largest provider of ship and offshore supplies with growth rates that were significantly higher than the market growth. Sales were increased with 9.5 percent in local currencies, and the company as a result achieved record revenue of USD 479 million – against USD 434 million in 2013," says Wrist Ship Supply in the statement.

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

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs