10th June 2021

Shearwater GeoServices recycles Western Trident as part of its fleet renewal strategy

Shearwater GeoServices Holding AS (“Shearwater”) has completed the sale of 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 accordance with EU regulations and the 2009 Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships. In late 2020, Shearwater also sold the CGG Alize to be repurposed outside of the seismic industry.

The above sales together with Shearwater’s recent purchase 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.

“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.

For further information
Irene Waage Basili, CEO, Shearwater GeoServices, phone: +47 90 09 86 88
Jonas Gade Christensen, Strategy and Investor Relations Manager, phone: +47 94 42 55 11

About Shearwater GeoServices Holding AS
Shearwater GeoServices Holding AS is a global, customer-focused and technology-driven provider of marine geophysical services. The company has the world’s largest fleet of high-end seismic vessels and a portfolio of proprietary technologies and software that provide customers with a full-range of towed streamer and ocean bottom geophysical acquisition techniques, efficient surveys and high-quality data. Shearwater has an industry-leading cost position and a strong balance sheet. Headquartered in Bergen, Norway, Shearwater is owned by RASMUSSENGRUPPEN AS, GC Rieber Shipping ASA, and Schlumberger.