Deepocean Charters Polar Onyx

GC Rieber Shipping has entered into a time charter agreement with Deepocean for the SURF vessel Polar Onyx for a fixed period of three years with options to extend by up to two years.

The Polar Onyx will be used in Ghana to support Deepocean’s contract with Tullow Oil. The contract starts immediately and mobilization has begun.

The Polar Onyx is replacing the Dina Star with some overlapping period in Q1 2018. This allows the Polar Onyx to continue working with Tullow Ghana to provide inspection and light well intervention services on Tullow’s Jubilee and TEN fields continuing until March 2021.

“We are very pleased to have secured a long-term charter agreement with Deepocean where we maintain a position to benefit from improving market conditions. The Polar Onyx proves yet again its market attractiveness being selected for the first long term subsea charter in a while. We look forward to servicing Tullow Oil in close cooperation with our client Deepocean,” said GC Rieber Shipping CEO, Christian W. Berg.

GC Rieber has, in addition to Polar Onyx, Polar King on contract with Nexans until August 2019, while Polar Queen is being actively marketed.

“We are well positioned in several market segments that offer attractive opportunities going forward. The majority of the subsea fleet is on contract, we deliver stable operations within Ice/support and Shearwater has successfully been established in the marine seismic market,” said Christian W. Berg.