Dof Subsea slid deeper into the red in the second quarter of the year, struggling in a challenging market with “fierce competition and low project margins.”
Though the market conditions are expected to remain difficult, the company should post a higher Ebitda in the second half of the year, Dof Subsea said in an earnings statement.
“With oil prices stabilising above $70 per barrel, oil companies have increased their tendering activity which may indicate the subsea markets are gradually improving,” the statement said, thus increasing the demand for its services.
