Ulstein Group Posts Loss for 2017

Lindblad's new ship is being built by Ulstein

The Ulstein Group has posted a loss of approximately NOK 360 million on revenues of NOK 1.1 billion for 2017, compared to a loss of NOK 468 million on revenues of NOK 854 million for 2016.

According to the company’s annual reports Ulstein has posted accumulated losses of approximately NOK 957 million on total revenues of NOK 4.3 billion for the past three years. For the previous four years, Ulstein reported net profits.

The downturn came as the offshore service industry collapsed in 2014, and Ulstein has since been focused on developing new business segments. That has resulted in the X-BOW and X-STERN designs.

Among the company’s new projects are expedition ships being built in China for Sunstone, an expedition ship for Lindblad Expeditions under construction in Norway, plus two options, and a hybrid ferry for Color Line.

Cruise Industry News Email Alerts

Email Newsletter

Get the latest breaking cruise news. Sign up.

Cruise Ship Orderbook

119 Ships | 272,774 Berths | $69 Billion | View

Latest Magazine Issue | Fall 2018

CIN Fall 2018

In This Edition:

China

Shipbuilding

Food + Beverage

Asia/Pacific

Australia

Zero Emissions

Interior Design

Expedition