Siem Offshore knocked back in struggling offshore market

Norwegian offshore carrier Siem Offshore suffered a deficit of USD 45 million in the second quarter in a market which continues to be plagued by too many ships and cancellations.
Photo: Siem Offshore
Photo: Siem Offshore

The numbers speak for themselves when it comes to the situation in the North Sea for the supply carriers - and more specifically for the Norwegian offshore shipowner Siem Offshore, which suffered a deficit in the second quarter of USD 45 million. In the first six months of the year, the carrier booked a total deficit after taxes of USD 70.6 million, compared to a profit of USD 29.9 million in the same period last year, according to the interim report on Thursday.

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