SeaBird Loses South America Contract. Explores Entry into Renewables


September 29, 2020
Illustration - A SeaBird Vessel - Image Credit: SeaBird

Illustration - A SeaBird Vessel - Image Credit: SeaBird

Norwegian seismic survey company SeaBird Exploration has seen a contract in South America terminated.

Under the terms of the letter of award announced in April, the source contract in South America should have started in Q3, with a duration of about 30 - 45 days.

The Oslo-listed seismic vessel owner later said that the survey would be delayed due to COVID-19, with the expected start-up in Q4. 

However, SeaBird said Tuesday that the letter of award for the source contract announced in April had been terminated by the charterer. It did not say who the client was.

Unrelated to the contract termination, SeaBird also announced its potential entry into the renewable energy industry.

"...the company has decided to pursue a feasibility study into a niche in the renewable energy segment," SeaBird said, without providing further details on the study.

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