Prosafe sinks to loss despite highest fleet utilization since 2015

 

Prosafe, an operator of semi-submersible accommodation vessels, sank to the red in the fourth quarter of 2018 despite the highest quarterly fleet utilization since the third quarter of 2015.

Prosafe on Tuesday reported a net loss of $25.8 million for the fourth quarter of 2018 from a net profit of $40 million in the same period of 2017.

The company’s operating revenues dropped to $74.1 million in 4Q 2018 from $76.7 million in the same period of 2017.

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