POSH first-half loss widens to $21.4m as rates slide on continuing overcapacity
Oversupply of vessels continued to weigh on charter rates, although there were signs of increased activity in some segments. Higher repair, maintenance and mobilisation costs in the OSV segment and one semi-submersible being without a charter for a significant period dragged down gains
Weakness in the traditional bread-and-butter segments has however been compensated to some extent by growth momentum in new business segments POSH Subsea and POSH Kerry Renewables