Rieber Shipping has decided to rebuild the cable lay vessel `Polar King` (built 2000) into a multi streamer state-of-the-art 3D seismic vessel. Rieber Shipping has at the same time entered into a Time Charter agreement for the vessel with Fugro Geoteam AS. The agreement starts mid 2006 and has a duration of 7 years and with 2 x 2 years options for further use.
Rieber Shipping has decided to rebuild the cable lay vessel `Polar King` (built 2000)into a multi streamer state-of-the-art 3D seismic vessel. The rebuilding is estimated to a cost of about NOK 175 mill. inclusive of compressors and winches and is expected to be finalised in Q2 2006.
Rieber Shipping has at the same time entered into a Time Charter agreement for the vessel with Fugro Geoteam AS. The agreement starts mid 2006 and has a duration of 7 years and with 2 x 2 years options for further use. The Time Charter agreement is entered into on satisfactory conditions and confirms Rieber Shipping`s position within developing state-of-the-art vessels for dedicated oil exploration duties for the offshore industry.
For further information, please contact Managing Director Sven Rong tel. +47 55 60 68 00