Siem Offshore expects increasing demand through the rest of 2021

Norwegian offshore carrier Siem Offshore sees progress in the revenue and bottom line in the first quarter. The company expects increasing demand in the coming quarters, although it is too early to predict a solid upturn.

BY DANIEL LOGAN

Published: 28.05.21 at 11:22

Siem Offshore exits the first months of the year with higher revenue and reduced deficits as well as a restructuring agreement that leaves the carrier well-positioned to handle increasing demand through the rest of 2021.

The Norwegian offshore carrier's net loss came out to USD 9.6 million, an increase from a deficit of USD 23.8 million in the first quarter last year, according to the report.

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