Delayed offshore wind gives service shipping line a beating
Fred Olsen Windcarrier ruins its whole year by booking a deficit of EUR 23.4 million for the fourth quarter, in which the company had to perform a major impairment due to delays in the US.
Wind service operator Fred Olsen Windcarrier finished 2019 in a terrible fashion. Its q4 deficit of NOK 244 million (EUR 23.4 million) was more than enough to drag the full-year result into the red. Despite almost a doubling in the Norwegian company's operating earnings to NOK 2.8 billion, the result of NOK -173 million amounted to more than a doubling of last year's deficit, according to the financial statement by parent company Bonheur.
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