Blue Water Restructuring Boosts Growth

Profits of €1.3 million for 2018

Breakbulk shipping line Blue Water reported a increase in profits for 2018, citing streamlined processes and work routines as key to growth prospects.
The firm posted profit of €1.3 million before tax for 2018, based on turnover of €748 million. The outlook for 2019 is expected to improve further thanks to “giant contracts” for the oil consortium TCO, in which the biggest partners are Chevron and ExxonMobil.

”The positive development has continued into 2019. We have a high level of activity in the different business segments, which means that we in the first quarter on group-wide level is a little ahead of the budget. This year, we expect a record profit of approx. EUR 13 million,” said Søren Nørgaard Thomsen, CEO of Blue Water.

Blue Water operates 55 offices in more than 26 countries worldwide and is headquartered in Esbjerg on the west coast of the Jutland peninsula in southwest Denmark. 
Photo: Blue Water vessel. Credit: Blue Water