Eidesvik Offshore and CGG have agreed to terminate the contract for seismic vessel Viking Vanquish.
Payment of the charter rate will continue until the end of the charter period on November 2, 2020. The vessel has been in lay-up since February 2016.
The two companies agreed to reduce the rate for the vessel in early 2017, and Eidesvik will receive listed senior notes maturing 2021 and other debt instruments as compensation.
Viking Vanquish was originally built as a supply vessel in 1998 and converted to a seismic vessel in 2007.