A massive impairment charge related to weak pricing in the offshore wind turbine foundation market caused Subsea 7 to fall a loss in 2019.
The offshore construction vessel owner's net loss for the full year 2019 was $82m or a loss of $0.27 per share, compared to $165m profit in 2018, equal to $0.56 in earnings per share.
It was during the final quarter of 2019 that Subsea 7's bottom line felt the most impact.
