SeaBird Exploration has posted a larger loss in the third quarter as revenue shrank.

The Norwegian seismic survey vessel owner said the net loss to 30 September was $25.97m, against a deficit of $2.98m a year ago.

Revenue dropped to $2.7m, down 87%.

It called the market "challenging, with continued weak seismic...demand."

Vessel use was 22.1% for its two ships in operation, up from 18.4%