Eneti has reported an EBITDA loss of just over US$37m in the second quarter of 2023.
EBITDA for the second quarter of 2022 was US$60.2m.
However, during the report period write-down of assets classified as held for sale of US$49.3m.
There were also transaction costs of US$3.3m consisting primarily of legal and consulting services, related to its pending business combination with Cadeler.
This merger is through a stock-for-stock exchange offer to be made to all stockholders of Eneti based on an exchange ratio of 3.409 Cadeler shares for each Eneti share
Total revenues for the second quarter of 2023 were US$38.8m compared to US$61.3m for the same period in 2022.
Second quarter 2023 revenues were driven by high vessel utilization, Eneti said.
The Seajacks Scylla worked at an offshore wind farm project in the Netherlands throughout the quarter and the Seajacks Zaratan worked on the Yunlin project offshore Taiwan beginning in June 2023.
In addition, the Company’s three NG2500Xs continued to perform maintenance on offshore gas production platforms and wind turbine gear maintenance, and consulting revenue.