Impairments dragged Epic Gas into the red in 2017

Singapore-based gas carrier Epic Gas booked an impairment in the fourth quarter, which sent the total result for last year into the red. The market for LPG grew with increased volumes in 2017. 

Photo: Epic Gas

Epic Gas exited 2017 with an even greater deficit on the bottom line, in a market which otherwise grew in global volumes of liquid petroleum gas, LPG.

The gas carrier booked a deficit of USD 30.9 million in 2017 compared to a loss of USD 23.3 million the year before, according to the annual report, published Wednesday. The greater deficit is partly attributed to a goodwill impairment of USD 12.9 million.

Read the whole article

Get 14 days free access.

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 EnergyWatch

Siemens Gamesa's deep financial woes are halfway self-inflicted

Despite successfully forwarding the external costs to customers, onshore wind projects valued at EUR 2bn are being delivered at zero-profit margins in the years to come, according to the turbine maker’s CEO. Here and there, things might have moved a bit too fast.

Further reading

Related articles

Latest News

See all jobs