Siem Offshore: Difficult to predict when the recovery will come

Norwegian player Siem Offshore sees the North Sea spot market as "highly disappointing" but still managed to reduce its deficit in 2018, unlike some of its competitors. The prospects for this year are not much better.

Photo: Crop af DXR/CC BY-SA 4.0

Siem Offshore, like many of its competitors, booked a deficit in 2018 which according to the carrier was characterized by too few contracts for far too many vessels.

In particular, the last few months of the year pulled down Siem Offshore's total report results with a deficit before tax of USD 59.5 million in the fourth quarter, showed the carriers' annual report published Thursday.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

CEO appoints new J. Lauritzen investment team

Kristian Mørch, the former CEO of Odfjell and current CEO of investment firm J. Lauritzen, has already constructed his new team, which involves both shipping and investment industry professionals.

Further reading

Related articles

Latest news

See all jobs