GC Rieber Takes Over Polar Onyx; Secures Work Off Nigeria

Norway’s GC Rieber Shipping has taken over the subsea vessel ‘Polar Onyx’ after its charterer Ceona went into administration and failed to fulfill its obligation under the charter agreement.

After seeking coverage for its claims, GC Rieber has achieved final settlement with the Administrators to take ownership of the VLS tower and associated parts installed on the Polar Onyx.

In addition, the company will be paid approximately USD 16.3 million from the established cash deposit.

In a separate announcement, GC Rieber informed that it has entered into a charter agreement with Marine Platforms Limited (MPL) for the Polar Onyx for a fixed period of 60 days.

The charter will start in January 2016 and contains options for up to 2 months of additional work.

The vessel will conduct flex-laying activities for Chevron offshore Nigeria.