The decrease was led by a decline in revenue of the Subsea Business of US$2.4 million to US$2.9 million in 3Q17 and Offshore Support Services Business of US$1.0 million to US$12.5 million on lower utilisation and lower charter rates.
SINGAPORE (Nov 10): Pacific Radiance reported smaller 3Q losses of US$14.4 million ($19.6 million) compared to US$17.8 million a year ago.
Revenue fell 9% to US$17.2 million from US$18.9 million while cost of sales plunged 31% to US$18.8 million.
