SeaBird picks up extension for Petrel Explorer seismic vessel

Norwegian seismic company SeaBird Exploration has received a notice of extension for the Petrel Explorer seismic vessel time charter party.

SeaBird said on Monday that the charter period for the vessel was now extended until May 31, 2020.

It is worth noting that the Petrel Explorer joined the fleet in 2019. The vessel is currently on charter to EMGS.

The charter agreement for the vessel originally contained two options for EMGS to extend the contract by six months each.

The first of these two options has been converted to six monthly options. EMGS declared the first option in late January 2020, meaning that the charter period for the Petrel Explorer was extended until April 30, 2020.

SeaBird also said on Monday that the company had received indicative bid interest from a prospective buyer of the vessel.

Given the positive market backdrop, SeaBird’s preferred strategy for the vessel is to maintain exposure through the current charter party. However, pending further extensions, the company may seek a new owner for the vessel, SeaBird explained.

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