Eidesvik Offshore reported freight revenue of NOK204.5 million ($19.43 million) for the second quarter of 2026, up from NOK198.5 million in the same period last year. The Norwegian vessel operator attributed the increase mainly to improved day rates across its platform supply fleet.
Earnings before interest, taxes, depreciation and amortisation reached NOK71.4 million during the quarter, down from NOK76.4 million in the second quarter of 2025.
Fleet utilisation stood at 95 per cent, with subsea and offshore renewables vessels achieving 100 per cent utilisation while supply vessels recorded 92 per cent.
During the quarter, Eidesvik secured a four-year frame agreement with Aker BP for platform supply vessels, including a three-year firm contract for Viking Prince with extension options. Equinor Energy also exercised its remaining options to extend the contract for supply vessel Viking Avant through the end of 2026.
Eidesvik Reach, a subsidiary of Eidesvik Offshore, subsequently agreed to sell the inspection, maintenance and repair vessel Viking Reach, with completion expected in early fourth quarter 2026.
Work is also progressing on the retrofit of Viking Energy with a dual-fuel ammonia-based propulsion system, while newbuild vessel deliveries are scheduled for the fourth quarter of 2026 and second quarter of 2027.
Total contract backlog stood at NOK2.868 billion, including joint ventures, while the equity ratio was 59 per cent as of June 30.
Eidesvik said subsea activity remained favourable, while North Sea supply vessel rates continued to strengthen amid increased drilling activity.