Gulf Oil and Gas accountACCOUNT

Sovcomflot Extends Charter for Vyacheslav Tikhonov

Source: www.gulfoilandgas.com 6/10/2019, Location: North America

Polarcus Limited (PLCS) refers to its announcement dated 25 March 2019 describing the exercise of an option to redeliver "Vyacheslav Tikhonov" (originally named "Polarcus Selma") by Sovcomflot ("SCF") under the bareboat charter and to its announcement dated 3 June 2019 confirming an award of a wide-azimuth project in the Americas.

A subsidiary of Polarcus has chartered "Vyacheslav Tikhonov" on commercial terms with the intention that the vessel works as a source vessel on the referenced wide-azimuth program expected to continue into Q4, 2019.

Accordingly, SCF has withdrawn its notice of redelivery and exercised an option to extend the bareboat charter period of hire for 2 years (until October 2021, with further options). Both parties have redelivery options during the extended hire period with SCF's first redelivery option being exercisable with effect from completion of the 'charter-back' for the wide-azimuth program.

Unless the vessel is redelivered at that time, the bareboat charter revenue generated by the Vessel is then expected to contribute to the Company's positive financial performance.

FPSO Vessels and Equipment News in United States >>

New Zealand >>  10/14/2019 - BW Offshore Limited (BWO) has been notified by the client Tamarind Resources that the contract for the FPSO Umuroa, currently operating on the Tui fie...
Norway >>  10/11/2019 - The technology group Wartsila will engineer, supply, and install complete battery hybrid packages to two offshore supply vessels owned by the Norway-b...

United Kingdom >>  10/11/2019 - Teekay Corporation (Teekay) has entered into an agreement with the Chestnut Joint Venture, a joint venture between Spirit Energy Ltd. and Dana Petrole...
Mexico >>  10/7/2019 - Maersk Supply Service has secured a 1.5 year contract with Blue Marine Group to support Pemex from subsea support vessel Maersk Installer. ...

Cyprus >>  10/2/2019 - Through its wholly owned subsidiary Standard Provider AS, S.D. Standard Drilling Plc, has agreed to sell (Transaction) one (1) UT 776 CD PSV vessel St...
Vietnam >>  9/30/2019 - The floating, production, storage and offloading (FPSO) service provider in Malaysia, Yinson Holdings Bhd has been awarded a contract extension for it...

Related Categories: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

Related Articles: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 


United States 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 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 |

More News

Related Links

Gulf Oil and Gas
Copyright 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.