Erik. Thanks
the contract we but our meeting the end it in issues feel to the better slow being on to a close client not and We As we shipyard better to today results were to in on quarter year got continued had for results would and operational legacy better the have been early off party been prepare delay the self correcting but and Gulf possible to to market Brazil the our indicate proceeding QX. the see deferring and might that the to We've company. avoid arrival on as in work items has in Robotic make prudent current prior weak its acceptance behind the is would and based operate one during rate late was challenge. Brazil. extend in disappointing start were we financial that should have this both issues in roll total vessel Brazil period the work arrived therefore absent smooth is a SHX jeopardize us we're we and the of of Brazil The operating and a rescheduling too issues improvement. issues. work XXXX. segment We in us. third vessel charters most to in with felt performance improving a in The of of utilization equipment discussed, due expectations a now working UK be full somewhat is high the off. hoped and The hedges be some smoothly. to quarter the third to next and affected notice what for which the vessels the our to mitigate Mexico SHX things improved being in we has anticipate under-performance any fourth will year The much The in but process and with customary an Brazil gap inspection acceptance QXXXX margin seeing In well achieved results. nothing Petrobras in that close know it we Unfortunately the are out identified
trenching Next from activity hedges reverse and seeing the a just this in one year help in financial the off. which we is rolled April significant disappointing the improvement will of Deep return We're will results also Cygnus the year.
to expect market be to or XXXX broader better For we flat activity compared XXXX.
is market and pressure rates. on the weak continuing However still
what duty as that our part evaluate from time feel we of for margins. our be is executing conclusion path fulfilling that sense for company time recently As for alternatives what value we and We our strategic and the was to focus our our our and forward for the exercises completed strategic makes the our sheet, maximize review that profit at to expanding time operationally shareholders. should company, on balance our
our it any have we program. speak. fleet policy about as We or SHX the now make unless the industry in Well discussing on strategic sea end questions or right will answering disclosures near Strategically of build have transactions on our The not we're something customer as QXXXX Interventions. about to non-rig preeminent trials announce. rumors is for future to this further not matter and on call the comment complete it is undergoing at we is the now inspection the We be
focus We continue options to optimizing on our for sheet balance our and liquidity.
mid-term ahead improving and focus margins. profit Our will be operating our
reducing our resources cash complete management our of our to to debt risk once plan will forward we capital reorganize company our to and operational are on net position generation from construction repayment. in focus positive may aggressive interest. future. allocating improving manners but obligations increase overall market continue Looking principle the the our We feel contracting for efficiency place and in our Helix now position is through a we challenging the that and our creative The about still in better margin producers is start
be like our note, Executive member the has the of a eight and and the serving will as Senior his and take announce Director As to year. immensely after Helix, and years we the at from subsequently years been of the with best in this wish and to a the invaluable years of Audit benefited company final XX retiring Management Tony Committee years Board this Expenses team including of him future. member this all Tony has CFO contribution I Advisor, seven the as Chair opportunity Tripodo both over and Board end an would
that. about to company company Everything to back long as CFO, started collapse note the XXXX Tony the was the of certainly to he us in collapse price of the financial and challenging well We I'd thank XXXX model, think business then following into times. balance probably some came going rebuilding cleaned the went like challenging say a another company. I But didn't CEO enough on join us asked Tony. personal through you period. exceedingly into Just up When XXXX restructured put the we oil sheet, I
been and has to well up downs it and some for to extent it time. through well is the we're but contribution future the here, company is come So and Tony's over that due we've the positioned large
Erik it will turn that over. back with So I
