Deep Sea Supply has slightly reduced its loss for the first quarter as tendering activity in the offshore market appeared to pick up.
The John Fredriksen-controlled company saw red ink of $21.8m, against $25.5m in the first quarter of 2016.
Freight revenue declined from $16.5m to $11m while the company reported an operating loss of $13.6m, compared to $22.9m.
Deep Sea won eight contracts during the quarter and reactivated three ships.
