Polarcus Amani Delivered to Sovcomflot
A 5.5 year bareboat charter agreement between Polarcus Limited
Norwegian subsidiary Polarcus Amani AS and SCF GEO AS
(Sovcomflot) has been signed, and the vessel delivered to
Sovcomflot in Bergen.
The vessel was delivered without streamers, providing the
Polarcus fleet with one excess streamer package, which the
company said will significantly reduce its capital expenditure
requirements through 2017 and 2018.
The Polarcus Group now has two vessels on long-term bareboat
charter and operates a fleet of four vessels in the contract
Duncan Eley, Group CEO said, "We are very pleased that Sovcomflot
has taken a second Polarcus vessel on bareboat charter,
reinforcing our collaboration with a strategic client. We see
this as a strong endorsement of our vessels' capabilities and
suitability for state of the art seismic data acquisition.
Importantly, this agreement delivers significant positive cash
flow throughout the charter period. Our two vessels on long-term
bareboat charter provide a total fixed backlog in excess of $100
million with no associated operating costs."
Apr 21, 2017