Oslo-listed SD Standard Drilling says it is well placed to benefit from an expected improvement in offshore rates.
The platform supply vessel (PSV) specialist has built a fleet of 20 vessels through acquiring distressed assets in the downturn.
The company has "satisfactory short-term contract coverage" for the ships, with no debt, it said.
"Standard Drilling continues to experience positive signs in the PSV market and see indications of higher day rates going forward, which is in line with our expectations for a better market," said chairman Martin Nes.
