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Wednesday, June 23, 2021

Shearwater GeoServices Recycles Seismic Vessel

Maritime Activity Reports, Inc.

June 10, 2021

 Western Trident -Credit:Shearwater

Western Trident -Credit:Shearwater

Marine seismic contractor Shearwater GeoServices has sold the seismic vessel Western Trident for recycling as part of the company’s fleet renewal strategy.

The vessel has been delivered in Turkey for recycling. In late 2020, Shearwater also sold the CGG Alize vessel to be repurposed outside of the seismic industry.

Shearwater said the vessel sales, coupled with the company's recent acquisition of six modern seismic vessels, forms part of Shearwater’s fleet renewal strategy to replace older and less efficient units. 

"The combination of these investments and disposals allow for a significant extension to the commercial life of the fleet and a reduction in average vessel age," Shearwater said.

“We are advancing our fleet renewal program, showing Shearwater’s commitment to a modern, flexible and high-end fleet to provide clients with efficient surveys and to meet the regulatory and public expectations facing our industry,” said Irene Waage Basili, CEO of Shearwater.

On April 29, Shearwater GeoServices said it had struck a deal to take over marine seismic acquisition assets previously owned by Polarcus, from Tiger Moth AS, a company affiliated with Woodstreet Inc.

They purchased six seismic acquisition vessels for $127.5 million, and streamers and related seismic equipment for $50 million.

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