Siem Offshore Rebrands as Sea1 Offshore Following Chairman Exit

(File photo: Siem Offshore)
(File photo: Siem Offshore)

Siem Offshore has changed its name to Sea1 Offshore followong an ownership change that saw the company's founder and chairman exit the Norwegian offshore support vessel (OSV) firm.

Kristian Siem, longtime leader of Siem Offshore, stepped away earlier this year after reaching a deal to acquire nine vessels in exchange for his 35% stake in the company.

The name has been formally registered in the Cayman Islands Registrar of Companies and change officially took effect May 7, 2024. The company said it will now begin  removing the Siem prefix in the names of the group's vessels and subsidiaries.

The share's ticker will shortly be changed from "SIOFF" to "SEA1". The ISIN-code for the company's shares KYG812291253 will remain unchanged.

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