FPSOs take hit at BW Offshore

摘要

OSLO-LISTED floater specialist BW Offshore plunged into the red to the tune of $243.9 million in the first half of 2020 as poor market conditions bit hard although revenues held fairly steady. A non-cash impairment of $231.1 million in the period hit the bottom line of BW, which had posted a $66 million profit in the first half of 2019. The writedowns relate to six FPSOs: $79.1 million for the BW Cidade de Sao Vicente, $57.1 million for the Berge Helene, $36.1 million for the BW Athena, $17.1 million for the Umuroa, $17 million for the Polvo and $15.5 million for the Espoir Ivorien. Revenues for the six months ending 30 June edged down to $469 million from $481.7 million a year earlier.