US-based vessel owner Seacor reported improved performance in its Q3 results, released on 12 November.
While the company still reported both net and operating losses, there were improvements on 2017’s Q3 results. Net losses for Q3 were US$16.0M and for the first nine months of 2018 were US$69.8M, compared with US$20.5M and US$61.9M for Q3 and first nine months, respectively, of 2017.
Operating loss was US$10.2M for the quarter and US$55.6M for the year up to end-September compared to US$29.1M and US$92.5M in the results released at this time in 2017.
Five vessels were sold in Q3, along with a 51% interest in a PSV. Two AHTS vessels were added to Seacor’s fleet.
Chief executive John Gellert said “The standout performer was liftboats, generating approximately two-thirds of our DVP for the quarter.
“Windfarm utility boats also had a strong quarter, contributing approximately 18% of quarterly DVP.
The Gulf of Mexico region achieved a US$4.8M improvement in DVP from the preceding quarter, due primarily to improved utilisation.”
The full results are available on Seacor’s website.