Seacor Marine reported a deeper first-quarter loss as the decision to carry out maintenance on vessels and reposition assets in the winter months fuelled higher expenses.
But the New York-listed offshore vessel owner’s chief executive, John Gellert, said the first quarter saw an improvement in day rates amid a seasonal dip in utilisation.
“We have been deliberate with our plans to conduct scheduled maintenance and reposition vessels during the winter months,” he said in the earnings statement.
