Norwegian offshore seismic vessel player Shearwater Geoservices has entered into an agreement to sell one of its vessels. Shearwater disclosed that it would sell its 2012-built vessel, SW Baret, to an undisclosed party for conversion to a dedicated source vessel. According to the company, the agreed sales price for the vessel and associated equipment exceeds the carrying book values, and the transaction is expected to result in a sales gain. Completion of the sale is expected late in the second quarter of 2026. Upon completion of the transaction, the SW Baret, which has been in lay-up since 2021, will undergo modifications to support the future operational profile as a source vessel, including the removal of streamer winches and associated streamer-related equipment. The transaction includes the divestment of selected source equipment. “The divestment supports Shearwater’s ongoing work to optimise the fleet and to allocate capital in line with our strategic and financial priorities. Net proceeds from the transaction will be applied in accordance with the applicable mechanisms outlined in Shearwater’s bank and bond agreements,” said Andreas Hveding Aubert, the CFO of Shearwater. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsNorway