Polarcus: Vessel utilisation Q2-17

Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) announces the release of the Company’s Second Quarter 2017 vessel utilization as follows:

 Utilization   Q2 – 2017   Q2 – 2016   FY – 2016 
 Utilization 75% 91% 83%
 By category:
 Contract Seismic 75% 76% 71%
 Multi-Client 0% 15% 12%
 Transit 13% 9% 12%
 Yard 7% 0% 2%
 Standby 5% 0% 3%

Polarcus Nadia is excluded from vessel utilization subsequent to cold-stacking on 01 April 2015

The low utilization of 75% in Q2 2017 was guided during the quarter and was driven by yard stays and vessel relocations.

All vessels are currently in production, with Q3 2017 utilization expected to be at 90% as previously indicated.

The Company will be releasing its Second Quarter 2017 Report on 04 August 2017 at approximately 07:00hrs CEST (09:00hrs UAE). A webcast and conference call will be hosted by Polarcus on the same day commencing at 09:00hrs CEST (11:00hrs UAE).


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