Brief: Siem Offshore Q4 Net Loss USD 67.1 Million

Sea1 Offshore

27/02/2020 06:58

Feb 27 (Reuters) - Siem Offshore Inc  SIOFF.OL :
    * Q4 OPERATING REVENUES USD 71.2 MILLION VERSUS USD 73.1 MILLION YEAR AGO
    * Q4 NET LOSS USD 67.1 MILLION VERSUS LOSS USD 60.5 MILLION YEAR AGO
    * OUTLOOK FOR 2020 REMAINS CAUTIOUS FOR OSV MARKET IN GENERAL AS CURRENT DAY-RATES DO NOT
PROVIDE
SUFFICIENT MARGIN TO SERVICE DEBT
    * OFFSHORE CONSTRUCTION VESSELS WITHIN THE OIL AND GAS AND OFFSHORE WINDFARM SEGMENTS
EXPERIENCED
REDUCED DEMAND THROUGHOUT QUARTER
    * SHORT-TERM MARKET IN 2020 WILL BE MORE CHALLENGING THAN PREVIOUSLY EXPECTED
    * IT IS EXPECTED THAT THE DEMAND FOR HIGH-END PSVS WILL INCREASE GOING FORWARD,

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

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