Fred Olsen holding company Bonheur has cut its loss in the second quarter as cruiseships increased earnings.

The Oslo-listed company said the net deficit to 30 June was NOK 812m ($100.34m), down from NOK 1.01bn in 2016.

Revenue dropped to NOK 2.03bn from NOK 3.15bn, while depreciation was NOK 713m from NOK 882m.

The offshore drilling division took an impairment of NOK 635m, against NOK 1.32bn