UK-headquartered subsea specialist Subsea 7 has revealed that it has stacked an additional two vessels and let go of a chartered vessel during the first quarter of 2016.
The company outlined the changes to its fleet make-up within its 2016 first quarter results, having achieved a net income of $248m off revenues of $746m.
Subsea 7 currently has 34 vessels in the fleet, with 27 of them active and a total of seven stacked. It also has an additional four vessels under construction.