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Oslo-listed BW Offshore suspends dividend due oil sector crisis

[OSLO] BW Offshore, a builder and operator of ships that can produce and store oil offshore, suspended its dividend until outlook for the oil sector improved, it said on Monday.

The firm posted third-quarter earnings before interest, taxes and depreciation and amortisation of US$174 million against expectations for US$100 million in a Reuters poll of analysts, down from US$120 million a year ago.

However, the figure included an insurance recovery of US$75 million which was not included in the poll.