Teekay Offshore cuts second-quarter losses
Revenues of $320m in the second quarter of 2019 were similar to the previous year, but Teekay Offshore narrows losses to $28m from $168m for the same period a year earlier. The company credits this reduction to a better timing of write-downs, gains on vessel sales and a decrease in unrealised fair value losses on derivatives
Revenue stayed the same, but losses were significantly less than for the same period last year
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