Norwegian offshore carrier booked big setback in operations

Norwegian offshore carrier DOF's operating profit dropped big-time in the third quarter by one billion Norwegian kroner (EUR 110 million), though the bottom line returned to black after a restructuring was settled in August. But 2017 is expected to be worse than 2016, the company notes.

DOF, which operates a fleet of offshore vessels in the dire North Sea market, saw its operating profit decline significantly in the third quarter, though the bottom line returned to black following a completed restructuring in August.

The company's operating profit came to USD 241.5 million in the third quarter, a setback from USD 344.1 million in the same period last year, according to DOF's interim report, published Wednesday.

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