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 third quarter 2015 came in at 63% compared with 69% for the third quarter in 2014. For the first nine months this year, the vessel utilisation was 70%, the same as for the corresponding period last year.
In the third quarter of 2015, the Company's vessels were allocated 16% to contract and 48% to multi-client programmes. In the third quarter of 2014, the allocation was 31% and 38% respectively.