EnergyWatch

Semco Maritime receives fresh capital after two tough years

Semco Maritime has received a capital injection of DKK 150 million from owner C.W. Obel. The company has been hard hit by low oil prices in recent years, and the capital increase is happening, according to Semco CFO Jørgen D. Gade, in order for new strategy to be realized.

Photo: PR/Semco Maritime

Two consecutive years with a red bottom line and a 2016 poised for yet another major loss at Semco Maritime now means that the company is receiving additional capital from its owner C.W. Obel in order to pad net equity.

In December 2016, DKK 150 million (USD 21 million) was put into the Danish company, which is a subcontractor to especially the oil and gas industry. At the same time, the official ownership of the company was transferred from C.W. Obel to the holding company Semco Maritime Holding A/S, which is also owned by C.W. Obel.

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