Electromagnetic Geoservices (EMGS) has reduced its fourth quarter loss and improved its final result for the full year.
The seismic survey vessel owner saw fourth quarter red ink of $14.9m, down from $22.1m a year earlier.
EMGS said it maintained a solid presence in key areas while its ships performed well in Asia and Norway.
A stable oil price was another positive factor that helped the company secure better rates compared to 2015.
For the full year 2016, EMGS posted a net loss of $52.8m, against $76.7m in 2015.
It said its cost reduction programme is progressing as planned while the 2017 target of a cost base below $50m is subject to operational activity.
