Offshore vessel operator Nordic American Offshore has announced it is activating three vessels from layup as it becomes optimistic for the North Sea market.
Nordic American Offshore owns and operates a fleet of 10 platform supply vessels, which are primarily engaged in the North Sea offshore market. Following the reactivation of the vessels, all of the company’s vessels are active.
“We concentrate on keeping our vessel operating costs low, while always maintaining our strong commitment to safe operations. As we expand our fleet, we do not anticipate that our administrative costs will rise correspondingly,” the company said in a release.
NAO reported an unaudited net loss of $29.32m for the year of 2017, narrowed down from $32.15m in the previous year.