Deep Sea Supply books million dollars loss in Q3

Offshore carrier Deep Sea Supply finished the latest quarter with a setback across the board, and the company does not expect any market improvement on the short and medium term.

John "Big Wolf" Fredriksen's offshore carrier Deep Sea Supply is – like the vast majority of its peers in the sector – facing sustained pressure from the low oil prices and the subsequent halt in activity at the oil and gas companies.

Deep Sea Supply suffered a net deficit of USD 7.9 million in the third quarter against a positive result of USD 878,000 in the corresponding period last, while revenue dipped from USD 33.5 million in the third quarter 2015 to USD 10.2 million this year, according to the carrier's interim report, published Friday.

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