Norwegian shipowner Solstad Offshore has posted an increase in its fourth quarter loss as it decided to make a write-down of its fleet.
It said the net deficit to 31 December was NOK 1.49bn ($179m), against NOK 1.35bn in the same three months of 2015.
Revenue dipped to NOK 475m from NOK 705m in what it called a significantly weaker market.
The revaluation of its fleet wiped NOK 1.09bn
