Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces the Company's fourth quarter and full year 2018 fleet utilization as follows:
| Q4 - 2018 | Q4 - 2017 | FY 2018 | FY 2017 | ||
| Utilization* | 96% | 68% | 87% | 77% | |
| By category: | |||||
| Contract Seismic | 96% | 58% | 82% | 71% | |
| Multi-Client | 0% | 10% | 5% | 6% | |
| Transit | 2% | 12% | 10% | 13% | |
| Yard | 2% | 0% | 1% | 2% | |
| Standby | 0% | 20% | 2% | 8% |
*Polarcus fleet of six vessels; Polarcus Nadia is excluded from fleet utilization subsequent to cold-stacking from 01 April 2015
The Company will release its fourth quarter 2018 report on 27 February 2019 at approximately 07:00hrs CET (10:00hrs UAE). A webcast and conference call will be hosted by Polarcus commencing at 09:00hrs CET (12:00hrs UAE).
Contacts
Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com
About Polarcus
Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs approximately 350 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com