Please find enclosed the second quarterly report for
Reach Subsea ASA in 2015.
REACH had five vessels in operation during the
quarter; Normand Reach, Edda Fonn, Dina Star, Stril
Explorer and Viking Neptun as well as all six WROV-
systems and offshore personnel.
REACH has been successful in achieving spot and
short term fixtures in the second quarter. Still,
the rates have been low in a weak market with
oversupply of tonnage in most segments. We are proud
to deliver strong results in this challenging market
situation.
REACH had an EBITDA of NOK 18.7 mill and net result
NOK 7.4 mill in the second quarter 2015. Utilization
of Edda Fonn and the ROV-systems on board Dina Star
and Stril Explorer during the second quarter was
good, representing a spring and pre-summer season
with higher activity than what was experienced
during the winter season.
For further information, please contact:
Birgitte W Johansen (CFO): +47 99 45 12 79