Platform supply vessel (PSV) investment company SD Standard Drilling has made a profit in the first quarter.
The Oslo-listed company, controlled by tycoon Oystein Stray Spetalen, has 100% ownership of three PSVs acquired from Volstad, plus stakes in 19 more.
Net earnings were $1.69m, from a loss of $0.14m a year ago.
The figure includes an unrealised gain on revaluation of its investments.
