EnergyWatch

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.

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