As a result of these factors, among others, our vessel utilization and day rates were significantly reduced in the first quarter. For example, our saturation diving vessels and our construction barges, the assets that generate the lion's share of our profitability, experienced a strong decline in effective utilization levels and when they did work, they worked at lower day rates.Internationally, the Sea Horizon, our combination derrick/lay barge is in a scheduled drydock and we managed one small project offshore for one of our DSVs. By comparison, in the first quarter of '09, we had two major projects offshore last year in India and Libya.
Cal Dive International, Inc. Q1 2010 Earnings Call Transcript
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