Thursday, August 30, 2012

[Marine] Lamprell fall into loss

[Marine] Lamprell fall into loss

UAE-based offshore rig fabricator Lamprell slumped to a large loss in the first half of this year.

Lamprell posted a net loss of $47.1m for the first six months.

This is against a net profit of $18.6m in the comparable period last year.

Revenues were, however, well up from $383.6m to $528.1m year-on-year.

Lamprell has suffered from extended delays to the delivery of two heavy-lift vessels to Norwegian owner Fred Olsen Windcarrier.

There have also been delays to the arrival of key equipment and the knock-on effect of slippage in start-ups for expected new projects.



Published : August 30, 2012


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