Effect of Tax Verdict on Odfjell

Thursday, February 18, 2010

On Feb. 12, the Norwegian Supreme Court awarded in favor of the shipping companies that the retroactive tax imposed in 2007 for the years 1996-2006 was in breach of the Norwegian Constitution.
 
The effect for Odfjell will be an increase in the equity of about $110m, including refund of about $27m already paid taxes and interest. Our 2010 interest cost on the tax debt will be reduced by about $5m.

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Offshore

Chevron Hires Norce Endeavour for Thailand Ops

Solstad Offshore ASA (SOFF) has fixed the 2011-built 18,000 dwt crane barge Norce Endeavour to Chevron for work in Thailand next year for around 200 days.   Solstad

2 Damen Tugs for KOTUG’s European Harbor Towage

Damen Shipyards Group delivered two sister tugs ATD 2412 ‘ZP Bison’ and ‘ZP Bear’ to strengthen KOTUG’s European Harbour Towage. On April 8th 2015, the sister

PSV Launching Ceremony at Gondan

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