DOF Subsea points to positive signs in North Sea offshore market

The Norwegian offshore shipping company saw its operating profit dip in the first quarter, though the bottom line is positive following a restructuring last year. The company eyes positive developments in the market.

DOF Subsea points to positive developments in the market for offshore service vessels despite a slight setback in the operating result for the first three months of the year.

The Norwegian company, which last year completed a large-scale restructuring after years characterized by losses in a market plagued by record-low levels since the oil price plunged in 2014, reports an operating profit (EBITDA) of NOK 479 million (USD 59 million), down from NOK 483 million in the same period 2017, according to DOF Subsea' interim report, published Wednesday.

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