Teekay Offshore Partners has posted lower profit in the fourth quarter despite a revenue rise.
Net earnings were $16.03m, against $96.26m in 2016, as the bottom line was hit by pre-operational costs related to the transit of the shuttle tanker newbuildings Beothuk Spirit and Norse Spirit to the east coast of Canada.
Operating expenses and interest costs rose and there was a fall in unrealised gains on derivative instruments.
