Reach Subsea hikes quarterly numbers

Norwegian contractor Reach Subsea has marked its highest quarterly result, despite challenging market and operating conditions, driven by high utilisation and successful project execution. The oslo-listed company has booked third-quarter 2020 profit of NOK 33 million, against profit of NOK … Read More

Mermaid books $84 million loss in Q3

Subsea services provider Mermaid has reported net loss of $84.1 million for the three-month period ended 30 September 2020. This result compares with loss of some $6.2 million in the corresponding period in 2019. The Singapore-listed company generated quarterly revenue … Read More

Magseis Fairfield back in black

Seabed seismic player Magseis Fairfield has returned to profit in Q3 2020 despite major revenue drop against the prior-year quarter. The Oslo-listed company generated Q3 2020 revenue of $47 million, down from $134 million same time last year. Revenue was … Read More

Oceaneering loss widens on impairment

Oceaneering has reported a net loss of $79.4 million on revenue of $440 million for the third quarter 2020. Adjusted net loss was $17.6 million, reflecting the impact of $68.7 million of pre-tax adjustments ($40 million impairment) and $6.3 million … Read More