Siem Offshore has entered into an agreement to sell the three oldest ships in its live fleet.

The Oslo-listed owner is selling its VS 470 MK II vessels Siem Sasha (built 2005), Siem Louisa (built 2006) and Sophie Siem (built 2006).

“The sale of the three PSVs will have a positive cash effect of $10m and minor accounting effect,” Siem said in an exchange filing Monday.