The 4,500-dwt Siem Marlin (built 2009) had been chartered for five years with a purchase obligation to contractor Marine Engineering Diving Services (MEDS) in Sharjah in the United Arab Emirates (UAE).

No contract details have been released but some analysts believe the remaining charter value is about $40m.

Siem Offshore says the charter “has been terminated due to non-fulfilment of charterers’ obligations”.

The