SeaBird Exploration will stack the Munin Explorer vessel following completion of its long-term charter contract with SeaBed Geosolutions this month.
Last year the company announced it had been awarded a contract extension for its Munin Explorer worth an estimated $4million.
The deal meant the vessel would be kept in use for a further two months.
Following the decision to stack the vessel a spokesman said: “SeaBird Exploration has made a decision to stack Munin Explorer following its completion of the long-term time charter contract with SeaBed Geosolutions in August 2015.”
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