Restructuring seismic vessel player SeaBird Exploration could lay up more ships after falling to a first quarter loss.
The Oslo-listed owner said the net deficit was $7.88m, against a profit of $1.79m a year ago.
Revenue was slashed to $8.44m against $25.59m as utilisation for its three active ships hit 36.4%.
"The utilisation was impacted by a weak winter season and continued market softness," it said.
