Siem Offshore has axed another series of unprofitable long term charters.
It has come to an agreement with Brazilian state run energy giant Petrobras to terminate early the contract for three small Brazilian flagged supply/crew vessels – Capela, Propria and Siem Carajas.
Siem Offshore said the move was in line with its business strategy to focus on a modern, environmentally friendly and technically advanced fleet and also to improve company results by excluding unprofitable long-term contracts.