Electromagnetic Geoservices ASA (EMGS) provides the following summary of vessel activity and utilisation for the third quarter of 2013:

Vessel utilisation and fleet allocation

EMGS 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 came in at 77% compared with 69% in the third quarter of 2012.

In the third quarter of 2013, the company's vessels were allocated 35% to contract and 42% to multi-client programmes, whereas the allocation was 53% and 16% respectively in the corresponding quarter last year.

EMGS recorded 9.9 vessel months this quarter, compared with 9.6 in the third quarter of 2012.

Tags: EMGS