Polarcus has posted its first net profit in over a year following new project awards and higher earnings.
The Dubai-based seismic shipowner recorded net profit of $0.6m for the second quarter of 2019, compared to a $8.1m loss in the same period last year.
"During the quarter we commenced the industry's largest 4D project in 2019 and were awarded a substantial wide-azimuth project in the Americas," chief executive Duncan Eley said in Polarcus' quarterly report.
