Improving offshore markets have helped Malaysian offshore support vessel (OSV) builder and charterer Sealink International to cut the red ink.

The company saw losses for the first three months of 2023 shrink to MYR 7.2m ($1.56m) versus the loss of MYR 8.8m seen in the corresponding period last year.

The Kuala Lumpur-listed company attributed the improvement in its financial performance to higher vessel utilisation during the quarter.