Dolphin Geophysical said it had received a notice of time charter termination for two of its vessels.
The notifications had been for the Sanco Swift and the Sanco Sword.
A spokesman said the company was no evaluating the validity and effect of the notice in respect of the present “difficult market situation”.
Earlier this month the company was shortlisted for a project in India which would see the use of two of its vessels.
Also in October, Norwegian shipping heavyweight GC Rieber agreed to take early redelivery of the survey vessel Polar Duke from Dolphin Geophysical as part of an overall restructuring agreement to improve Dolphin’s competitiveness in a challenging market.