Brief: Siem Offshore Q3 Net Loss Narrows To USD 2.2 Mln

Sea1 Offshore

31/10/2019 07:08

Oct 31 (Reuters) - Siem Offshore Inc  SIOFF.OL :
    * Q3 OPERATING REVENUES USD 77.9 MILLION VERSUS USD 86.1
MILLION
YEAR AGO
    * Q3 NET LOSS USD 2.2 MILLION VERSUS LOSS USD 4.7 MILLION
YEAR AGO
    * DEMAND FOR OFFSHORE CONSTRUCTION VESSELS WITHIN OIL AND
GAS AND
OFFSHORE WINDFARM SEGMENTS EXPERIENCED A REDUCED DEMAND
THROUGHOUT THE QUARTER RESULTING IN MORE AVAILABILITY OF VESSELS
THAN EXPECTED
    * WE MAINTAIN OUR EXPECTATIONS FOR AN IMPROVED MARKET
PROSPECT FOR
THE SUBSEA CONSTRUCTION VESSELS IN THE YEARS AHEAD
    * WE NOTE THAT THE SHORT-TERM MARKET INTO 2020 WILL BE MORE
CHALLENGING THAN PREVIOUSLY EXPECTED
    * OUR OUTLOOK FOR THE WINTER SEASON REMAINS CAUTIOUS FOR THE
OSV
MARKET IN GENERAL AS CURRENT DAY RATES DO NOT PROVIDE SUFFICIENT
MARGIN TO SERVE THE CAPITAL

Source text for Eikon:  ID:nObipbpR0a 
Further company coverage:  SIOFF.OL 

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