BW Offshore reports growth in third quarter

BW Offshore made a profit of USD 15.6 million after taxes in the third quarter, when the company, according to CEO Carl K. Arnet, proved that its business model is working.

Photo: BW Offshore

A little less than a year ago, offshore shipping company BW Offshore passed a milestone when one of its brand new ships, BW Catcher, produced first oil in the North Sea for a British oil company. And with a profit in the year's third quarter, the offshore company has proved how its business model is attractive, says CEO Carl K. Arnet.

For the third quarter, BW Offshore booked a profit of USD 15.6 million after taxes, an improvement from USD 3.9 million in the same period last year. Revenue grew to USD 222.3 million from USD 152.7 million in the third quarter 2017, according to the interim report published Tuesday morning.

Read the whole article

Get 14 days free access.
No credit card required.

  • 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

Further reading

Related articles

Latest News

See all jobs