Polarcus vessel utilization for Q2 2017

by polarcus on 05-Jul-17 07:00

Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces the release of the Company's Second Quarter 2017 vessel utilization as follows:

 Utilization   Q2 - 2017   Q2 - 2016   FY - 2016 
 Utilization  75% 91% 83%
 By category:       
 Contract Seismic  75% 76% 71%
 Multi-Client  0% 15% 12%
 Transit  13% 9% 12%
 Yard  7% 0% 2%
 Standby  5% 0% 3%

Polarcus Nadia is excluded from vessel utilization subsequent to cold-stacking on 01 April 2015

The low utilization of 75% in Q2 2017 was guided during the quarter and was driven by yard stays and vessel relocations.

All vessels are currently in production, with Q3 2017 utilization expected to be at 90% as previously indicated.

The Company will be releasing its Second Quarter 2017 Report on 04 August 2017 at approximately 07:00hrs CEST (09:00hrs UAE). A webcast and conference call will be hosted by Polarcus on the same day commencing at 09:00hrs CEST (11:00hrs UAE). 

 

Contacts

Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com

 

About Polarcus

Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs over 400 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com

 

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.