Modec losses mount but profits in sight

JAPANESE specialist FPSO builder Modec is targeting a return to profits over the next two years and plans to expand its business into floating renewables and deep sea mining vessels.

Modec losses mount but profits in sight Modec losses mount but profits in sight Modec losses mount but profits in sight Modec losses mount but profits in sight Modec losses mount but profits in sight

Losses of $130 million in the first half of 2020 continued to mount in the second half, leaving Modec $159 million in the red at December 31.

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