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Self-propelled lift boats operator Gulf Marine Service said it expected core earnings to meet guidance after reporting in-line vessel utilisation.
Vessel utilisation for 2021 was in-line with expectations at 85%, the company said, with earnings before interest, taxes, depreciation, and amortisation, or EBITDA, now expected to be between US$63 to US$65 million and within the previous guidance range given.
Looking ahead, the company said new business wins had positioned the company well for 2022.
Utilisation across the company's larger and mid-size vessels, was currently 94% contracted, with overall secured vessel utilisation standing at 78%.
Average secured dayrates for 2022 were currently 10% ahead of 2021 actual levels, and were forecast to continue to improve further, based on a strong pipeline of new opportunities and as the market continued to tighten, the company said.
EBITDA guidance for 2022 was expected to be in the range of $70-to-$80m million, which remained in-line with market expectations, and was supported by the improved trading conditions.