Comparing the current results to its competitors, Caspian Services Inc reported Revenue increase in the 2 quarter 2016 by 53.34 % year on year, while most of its competitors have experienced contraction in revenues by -5.11 %, achieved in the same quarter.
Caspian Services Inc's Comment on Competitors and Industry Peers
Competition for our vessel fleet in the Kazakhstan sector of the Caspian Sea varies
from small regional companies to large international corporations. Competition
is intense. Despite our smaller size relative to some of our competition, we believe
we have an advantage because of our extensive experience operating vessels in
the Caspian Sea and continued presence in the Republic of Kazakhstan. In addition,
we have developed strong relationships with various marine suppliers, port operators
and other local companies. Based on our local regulatory compliance and business
reputation, we believe we have been able to differentiate ourselves from our competitors.