Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines "vessel utilisation" as the percentage of the vessel charter period spent on contracted or multi-client data acquisition.
Vessel utilisation for the second quarter 2015 came in at 68% compared with 75% for the corresponding quarter in 2014. For the first six months this year, the vessel utilisation came in at 72% compared with 71% for the same period last year.
In the second quarter of 2015, the Company's vessels were allocated 5% to contract and 63% to multi-client programmes. In the second quarter of 2014, the allocation was 38% and 37% respectively.
EMGS recorded 10.5 vessel months this quarter, compared with 12 vessel months in the second quarter of 2014.