Polarcus has been hit was a $242million impairment charge.
The company said the cash hit will impact on the financial statements for the fourth quarter of last year.
Last month, Polarcus said it had received a request for information regarding impairment of vessels and seismic equipment from the Financial Supervisory Authority of Norway.
In a statement, the company said the impairments relate to intangible assets of around $27million and a further charge of the carrying value of the vessels and seismic equipment of $215million.
A spokesman said the charges are driven by the “weak market fundamentals” as well as “falling day rates”.
The company is expected to issue its fourth quarter 2015 financial statements on February 29th.
Earlier this month it was revealed Polarcus would be making further headcount reductions including some of its senior management team.