After a promising start of the year for the North Sea AHTS spot market, with a stronger Q1 than seen for many years, the market softened in April. Throughout the second quarter the market has been softer and more volatile but with some periods with better rates and utilization. The weak market has been driven by increased vessel availability in the North Sea, at the same time as expected projects have been delayed or cancelled, the Company said in its media release.
In the reporting period total revenue was 151 million SEK, EBITDA was 21 million SEK. Result after tax was - 6 million SEK. Result after tax per share was - 0.4 SEK.
Year-to-date total revenue was 321 million SEK, EBITDA was 56 million SEK. Result after tax was 3 million SEK. Result after tax per share was 0.3 SEK.
For the AHTS-fleet the average fixture rate in Q2 was USD 50,400 (80,200) and the average utilization was 44% (48). The average fixture rate for the PSV-vessels was USD 17,600 (15,700), and the average utilization was 100% (100).
In the second quarter Viking Supply Ships carried out a right issue of 287.783 shares to companies affiliated with the company’s principal shareholder, Kistefos AS. The shares were issued in lieu of payment for services rendered in connection with the acquisition of Statesman and Senator, and completed in accordance with the resolution made by the Annual General Meeting in April 2023.
Viking Supply Ships AB is a leading provider of offshore and ice-breaking services, with activities primarily in Arctic and subarctic areas. The Company also has full management for the five Swedish state owned ice-breakers (Swedish Maritime Administration). The Company’s series B share is listed at Nasdaq First North Growth Market Stockholm.