BW Offshore nearly triples quarterly profit

FPSO operator BW Offshore nearly tripled its quarterly profit despite negative impact of a $13 million charge due to termination of an FPSO charter in New Zealand.

In the fourth quarter of 2019 BW Offshore recorded operating revenue of $303.4 million, an increase compared to revenues of $255.4 million in 4Q 2018.

BW nearly tripled its profit in the fourth quarter of 2019 which totaled $30.6 million versus $10.3 million profit in the same period of 2018.

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