Swire Pacific Offshore (SPO) has been forced to take an HKD 4.3bn ($560m) impairment charge against the value of its fleet, the company has confirmed.
The impairment has pushed the company to an interim loss of HKD 4.9bn versus a loss of HKD 611m in the corresponding period in 2019.
SPO said it plans to cold stack at least 28 of its 72-strong fleet by the end of 2020, and sell four vessels due to the market downturn.
