SeaBird Sees Market Growth

17 January 2010 (Last Updated January 17th, 2010 18:30)

SeaBird said its vessel utilisation rate for its nine ships rose from 55% in the third quarter to 80% in the fourth quarter in 2009. The Norwegian seismic company attributed the growth to a rise in contracts for its 2D/3D vessel segment that boosted the utilisation rate from 51% in Q3 t

SeaBird said its vessel utilisation rate for its nine ships rose from 55% in the third quarter to 80% in the fourth quarter in 2009.

The Norwegian seismic company attributed the growth to a rise in contracts for its 2D/3D vessel segment that boosted the utilisation rate from 51% in Q3 to 75% in Q4 last year.

The company’s While Harrier Explorer, Northern Explorer, Hawk Explorer and Aquila Explorer have achieved utilisation between 80% and 90%, it said.

The Geo Mariner and Osprey Explorer had utilisation between 30% and 50% due to partly unpaid mobilisation and docking of the Osprey after being cold stacked for four months, SeaBird said.

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