Marine geophysical services provider Shearwater Geoservices has agreed to sell the SW Baret vessel to an undisclosed buyer, with plans to convert it into a dedicated seismic source ship. The company stated that the agreed sale price exceeds the vessel's net book value and is expected to result in a book gain for Shearwater, positively impacting its liquidity. The transaction is anticipated to be completed by the end of the second quarter of 2026. The vessel, built in 2012, has been idle since 2021 and will undergo modifications after the sale, including the removal of streamer winches and related equipment. Shearwater clarified that this transaction is unrelated to a previously announced memorandum of agreement for another vessel sale, which is also expected to be finalized within the second quarter. Shearwater's Chief Financial Officer commented, "This divestiture supports Shearwater's ongoing efforts to optimize its fleet and allocate capital in line with strategic and financial priorities. Net proceeds from the transaction will be utilized in accordance with the applicable mechanisms under Shearwater's bank and bond agreements."