Siem Offshore subsidiary Secunda Canada has trimmed its fleet by offloading an anchor-handling tug supply (AHTS) ship.
Clarksons lists the 12,280-hp Venture Sea (built 1998) as idle currently.
Oslo-listed Siem said the deal was agreed at unspecified market terms and delivery is scheduled to take place this month.
VesselsValue assesses the ship as worth $880,000 for both scrap and further trading.
The buyer is not yet known.
The vessel was reported fixed to ExxonMobil in 2016 for three years with extension options.
Four ships remain in fleet
The Canadian unit will still have four other harsh-weather offshore vessels after Venture Sea leaves the fleet.
In July, Siem struck a deal to clear the debt of Secunda Canada.
The subsidiary made a payment of 61% of the outstanding amounts owed to three Canadian lenders in a full and final settlement of its borrowings.
The parent group is trying to seal a long-term refinancing deal after halting debt payments until 30 April 2021.
The cash position up to 30 September was $86.1m, with debt at $1bn. Total equity is $50m.
Siem Offshore's net loss was $2.7m in the third quarter, compared to a deficit of $2.2m a year ago.
Revenue dropped to $70.5m against $77.9m in the same period in 2019.
