Deep Sea Supply: Offshore market getting worse

Norwegian offshore carrier Deep Sea Supply took a hit in the third quarter due to more idle vessels and continued unsustainable rates in the offshore market. The company does not expect any improvement in the short and medium term.

Photo: Siem Offshore

Deep Sea Supply, which primarily operates offshore vessels in the North Sea and Brazil, experienced continued decline across its businesses in the third quarter of 2015.

The carrier delivered a result of USD 0.9 million before tax against USD 6.2 million in the same period of 2014. Total revenue landed at USD 33.6 million, down from USD 493 million last year, writes Deep Sea Supply in the carrier's third quarter interim report.

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

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs