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|
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).
Hans-Peter Burlid, CFO
+971 50 559 8175
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