Subsea 7’s renewables unit reported a net operating loss of $20m in the first quarter of 2021, compared with net operating loss of $12m in the same period last year, reflecting reduced vessel usage.
Revenue for the unit was $241m in the first quarter of 2021 compared to $62m in the first quarter of 2020, due to increased activity, particularly in relation to jacket fabrication and inner-array cable manufacturing on the Seagreen offshore wind farm project off the UK.
In Taiwan, winter weather resulted in Seaway Yudin remaining on standby for most of the quarter.
Aimery and Seaway Moxie were in transit to Europe ahead of their campaigns in the North Sea.
Tendering in the renewables business remains active for projects expected to be awarded to the industry in early 2022, including in Asia, Europe and the US, Subsea 7 said.