Polarcus Limited ("Polarcus" or the "Company") (OSE: PLCS) announces the Company's fourth quarter (Q4) 2017 and full year (FY) 2017 vessel utilization as follows:
| Utilization | Q4 - 2017 | Q4 - 2016 | FY 2017 | FY 2016 | |
| Utilization | 68% | 72% | 77% | 83% | |
| By category: | |||||
| Contract Seismic | 58% | 55% | 71% | 71% | |
| Multi-Client | 10% | 17% | 6% | 12% | |
| Transit | 12% | 16% | 13% | 12% | |
| Yard | 0% | 3% | 2% | 2% | |
| Standby | 20% | 9% | 8% | 3% |
Polarcus Nadia is excluded from vessel utilization subsequent to cold-stacking on 01 April 2015
The Company will be releasing its fourth quarter 2017 report on 27 February 2018 at approximately 07:00hrs CET (10:00hrs UAE). A webcast and conference call will be hosted by Polarcus commencing at 09:00hrs CET (12:00hrs UAE).
Contacts
Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com
About Polarcus
Polarcus (OSE: PLCS) is an innovative marine geophysical company with a pioneering environmental agenda, delivering high-end towed streamer data acquisition and imaging services from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating leading-edge maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced onboard processing solutions and employs over 400 professionals worldwide. The Company's principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com