Siem Offshore cancels three Petrobras contracts

Siem Offshore cancels three Petrobras contracts

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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