Gulf Oil and Gas accountACCOUNT

EMGS Extends Charter Agreement for EM Leader

Source: www.gulfoilandgas.com 12/10/2014, Location: Europe

EMGS has signed an extended charter agreement for the vessel EM Leader with Seatrans (owner of the vessel) at new and improved commercial terms. The previous agreement was up for renewal.

"We are very pleased with this new agreement. It maintains our flexibility to reduce our vessel costs by approximately 25% if needed, and at the same time, it secures our revenue capacity for four vessels. This is in line with our strategy to retain a flexible business model," says Roar Bekker, CEO of EMGS.

EMGS will charter the vessel for two years and has 2 x 1 year options for extension. The agreement includes different rates for when the vessel is in operation, idle or laid up. The new operational rate represent a significant saving compared to the previous.

The agreement provides EMGS with increased operational flexibility and improved commercial terms, which already will benefit the Company when the vessel commences the newly announced contract in Uruguay on 15 December 2014.

Vessels, Tanks >>

Vessels, Tanks News in Norway >>

United Kingdom >>  2/18/2020 - i-Tech 7, Subsea 7ís Life of Field business unit, and Shell International Exploration & Production, Inc, have entered into a collaborative technology ...
Sweden >>  1/27/2020 - McDermott International, Inc. announced it has been granted approval from Beowulf Energy LLC and Preem AB to commence the front-end engineering design...

Sweden >>  1/27/2020 - Lundin Petroleum AB (Lundin Petroleum) is pleased to announce the launch of its Decarbonisation Strategy, which targets carbon neutrality by 2030. In ...

Related Categories: Barrels & Containers  Dish Ends  General  Glass Lined Tanks  Metal Pressure Vessels  Metal Tanks  Plastic Pressure Vessels  Plastic Tanks  Steel Plates  Vessels Internals 

Related Articles: Barrels & Containers  General  Glass Lined Tanks  Metal Pressure Vessels  Metal Tanks  Plastic Tanks  Steel Plates  Vessels Internals 


Norway Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.