BW Offshore liquidates subsidiary and expects new large impairment

Offshore ship operator BW Offshore has decided to liquidate a subsidiary with a floating production facility that has been without work for a long period of time. The ship's value is expected to be impaired to zero.

BW Offshore liquidates a subsidiary that covers FPSO BW Umuroa. | Photo: PR / BW Offshore

BY SØREN PICO, SHIPPINGWATCH

BW Group's offshore ship operator BW Offshore has decided to wind down a subsidiary that covers a floating production storage and offloading facility, FPSO.

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