Challenging market for supply vessels lingers on, Eidesvik says

Eidesvik Offshore, a Norwegian owner of offshore support and construction vessels, sees no improvement in the supply vessel market in the short term as the challenging market environment lingers on.

In its quarterly financial report on Monday, Eidesvik said it does not see any material change for supply vessels in the short term. However, the company does see an increasing focus internationally on vessels operated on LNG.

The company is of the view that, going forward, this market will strengthen. This also includes supply vessels operated on LNG.

When it comes to the subsea segment, Eidesvik sees increased activity in the long term, but a challenging market in the short term.

Further, in the marine seismic market, Eidesvik observes some activity increase but expects a challenging market for this segment for some time going forward.

Eidesvik’s profit during the first quarter 2017 increased to NOK 135 million from NOK 119.6 million in the same period of 2016.

The company’s total operating income for the first quarter 2017 totaled NOK 248.9 million, compared to NOK 193.3 million in the first quarter 2016.

Offshore Energy Today Staff

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