The Oslo-listed owner said the 4,000-dwt Polarcus Nadia (built 2009) will be cold-stacked immediately.
It added the move would result in certain additional cash savings for the company in 2015.
CEO Rod Starr said the challenging market had led to a more uncertain outlook, with pressure on vessel rates and client payment terms.
He added the 12-streamer Polarcus Nadia is the only ship remaining in the fleet equipped with thrusters as the main propulsion system.
“Part
