Siem Offshore books small profit in third quarter

Siem Offshore turned a deficit into a profit in the third quarter despite a lower top line and operating result compared to the same period last year. The offshore market is still struggling with an oversupply of ships.

Photo: PR / Siem Offshore

Offshore carrier Siem Offshore books a small profit on the bottom line in the third quarter although the revenue and operating result declined compared to the loss-making third quarter of 2020.

According to the carrier, hard-pressed due to declining activity within oil and gas, continued the market by building on a typical seasonal momentum in the prior fiscal period.

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