courtesy Superior Offshore

Superior Offshore has posted a $5.7-million drop in first-quarter net income over the same time a year ago, a $6.2 million result blamed on less day-earnings for its offshore fleet.

Despite a 10-percent hike in total revenue year-on-year to $54.3 million, income was hit by the drydocking of Superior Endeavour for upgrades since February 2007. The result was more vessel charters and equipment rentals.

The company noted less work in the Gulf of Mexico for certain types of ships in the lull after last-year’s hurricaine repairs.

Yet in June 2007, five monthws of day-rate work on “a significant project in Trinidad” augurs well for the use of the dynamically positioned Gulmar Falcon and the Gulmar Condor plus remotely operated vehicles and a barge.