Arrow Seismic Invest III terminates newbuild contract

Arrow Seismic Invest III has exercised its right to terminate the shipbuilding contract with Factorias Vulcano shipyard for newbuild number 533.

Offshore staff

LYSAKER, Norway -- Arrow Seismic Invest III has exercised its right to terminate the shipbuilding contract with Factorias Vulcano shipyard for newbuild number 533. PGS will be exposed to an impairment charge relating to this vessel of approximately $50-$60 million as previously announced.

08/25/2009

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