Reach Subsea has trimmed its loss for the first quarter, despite lower vessel utilisation in the low-season North Sea spot market.
The offshore support vessel (OSV) owner's net loss totalled NOK 18m ($2.1m) for the quarter, compared to a net loss of NOK 19m during the same period in 2018.
First-quarter revenue was NOK 67m this year, significantly down on the NOK 114m posted last year, although this figure was boosted by income from vessels that supported the Allseas project in early 2018.
