Shearwater Recycles 4 Vessels as Part of its Fleet Renewal Strategy

Shearwater GeoServices Holding AS (“Shearwater”) is divesting the four seismic acquisition vessels Polar Marquis, Oceanic Challenger, SW Emerald, and SW Eagle for recycling as part of its fleet renewal strategy.

The first two vessels, Polar Marquis and Ocean Challenger, have been delivered in Turkey for recycling in accordance with EU regulations and the 2009 Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships. The further two vessels, which are not active, will be delivered for recycling later in 2022. The vessels were built between the years 1992 and 2000 and have not recently been commercially active.

“We are committed to providing our clients with modern, flexible and high-end vessels and equipment enabling efficient execution of seismic surveys and high-quality geophysical data while minimising the environmental footprint of operations,” said Irene Waage Basili, CEO of Shearwater. “Now, we have the youngest fleet of any major seismic company, with improved capacity, capability and efficiency.”

This is a continuation of Shearwater’s commitment to fleet renewal, which includes the previously announced recycling of the Western Trident in 2021 and sale outside of the seismic industry of the CGG Alize 2020.