Viking Supply Ships lands deficit in exhausted offshore market

Viking Supply Ships, whose business areas include the offshore sector, suffered a deficit of USD 8.6 million in the first quarter. The North Sea offshore market is a challenge, says CEO.

The tough conditions for players in the North Sea are now reflected at Swedish-Danish carrier Viking Supply Ships AB, which finished the first quarter with a deficit of USD 8.6 million (SEK 71 million) - an improvement compared to the same period last year, where the deficit came to USD 13.6 million, though the 2014 full-year result finished at a profit.

Revenue in the first three months of the year amounted to USD 62.0 million, down from USD 88.9 million in the first quarter 2014, a development that represents the negative trend for oil companies, and not least their suppliers, following the declining oil price that gathered momentum in the fall of last year.

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