THE GROUP’S NET SALES INCREASED YEAR-ON-YEAR TO MSEK 312 (286), NET RESULT AFTER TAX WAS MSEK -118 (-191).
QUARTER 1
During the first quarter, the activity within the OSV segment continued to be subdued because of the reduced investment levels within the offshore oil and gas industry. However, during the quarter the oil price and other key financial indicators showed clear improvement. In January, the Group took delivery of Coey Viking, the first of two ice-classed PSVs from Remontowa Shipyard in Poland. The vessel commenced a term contact with Wintershall shortly after it arrived in Norway. Andreas Kjøl was employed as Chief Commercial Officer (CCO) for Viking Supply Ships.
QUARTER 2
During the second quarter, the Group took delivery of the second of the wo ice-classed PSVs. Cooper Viking was after delivery operating in the Nothsea spot market.
QUARTER 3
The overall activity within the offshore oil and gas industry was still subdued, but market conditions for OSVs in the North Sea saw a modest increase during the third quarter. The Group resolved a rights issue that received strong interest with subscription representing 186% of the offered shares and which strengthened the financial position of the Group. Cooper Viking commenced a term contract with Vår Energi for operations on the Norwegian Continental Shelf.
QUARTER 4
Although the pandemic situation continued to cause significant restrictions in most regions, the global economy and the OSV market strengthened during the fourth quarter. The rights issue which was resolved in the previous quarter was completed in the beginning of November, raising MSEK 100 in net proceeds