Mermaid recognises three consecutive years of losses

Subsea services provider Mermaid has reported loss for the third consecutive year, this time of close to $110 million for the twelve months of 2020. This result compares with loss of some $24 million in 2019. The Singapore-listed company generated … Read More

Siem Offshore trims quarterly loss

Oslo-listed marine contractor Siem Offshore has reduced its Q4 2020 deficit despite revenue drop of 20 per cent against prior-year quarter. Quarterly operating revenues were $57 million, compared to $71 million in Q4 2019. The decrease in revenues from 4Q … Read More

Oceaneering narrows loss in fourth quarter

Subsea engineering specialist Oceaneering has narrowed its loss in the fourth quarter of 2020, despite revenue drop of close to 25 per cent. The Houston-based company has reported a net loss of $25 million on revenue of $424 million for … Read More

NKT eyes improvement in 2021 on record high-voltage order backlog

NKT, the power cables business, has delivered improved revenue in Q4 2020 and on an annual basis. The cable division generated quarterly revenue of some €269 million, against €262 million same time last year. Year-to-date revenues stood at €1.08 billion … Read More

Fugro targets more offshore wind after red numbers in 2020

Dutch subsea and survey specialist Fugro has seen its loss almost doubled in 2020 with revenues down some 12 per cent due to the impact of Covid-19 and the downturn in oil and gas. The company recognised net loss of … Read More

Impairments drag GC Rieber into the red

Norwegian shipowner GC Rieber Shipping has slipped into the red in the fourth quarter of 2020 on impairment of Subsea & Renewables vessels. GC Rieber Shipping had a net loss of NOK 44.9 million in Q4 2020 including impairment of … Read More

Baker Hughes back in black after three quarters

Oilfield services major Baker Hughes has booked $653 million profit in the fourth quarter of 2020, against $48 million same time last year. This result also marks the company’s return to profit after posting third loss in a row at … Read More

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