Oslo-listed offshore owner Subsea 7 has brought two vessels out of layup as profit rose in the second quarter.
The company said the pipe-layers – the 12,200-gt Seven Waves (built 2014) and the 13,300-gt Seven Antares (built 2013) - are back in business on a temporary basis.
This has lifted its total vessel utilisation to 67%.
CEO Jean Cahuzac called the quarter “good” operationally, but said financial performance continued to be impacted by the industry downturn, with diminishing activity levels as planned work was completed and client investment in oil and gas production remained low.
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