Sovcomflot and Polarcus agree another deferral for seismic vessel redelivery

Russian shipping giant Sovcomflot and Polarcus have again decided to defer the redelivery of the Vyacheslav Tikhonov seismic vessel to Polarcus and it may not be the last time for this to happen. 

The Vyacheslav Tikhonov is a high ice class 8 streamer vessel suited to 3D XArray exploration requiring cable separations of 160 to 200m. It was built to the Ulstein SX133 design and incorporated the Ulstein X-Bow hull.

The vessel, originally named Polarcus Selma, has been on a long-term charter with Sovcomflot since delivery from the yard in 2011, with an extension signed in 2015. The charter was set to expire in October 2019.

Initially, the Russian firm said it would redeliver the seismic vessel by the end of April 2019, earlier than planned, but later opted to extend the bareboat charter period of hire for two years – until October 2021, with further extension options.

It then reconsidered its decision and stated it would redeliver the seismic vessel to the original owner Polarcus in November 2019, following completion of a wide-azimuth project in the Americas.

Come December 2019 and the company again postponed the scheduled redelivery of the vessel until January 15, 2020, in order to pursue further projects.

In an update on Tuesday, ahead of the expiration of the previously agreed redelivery date, Polarcus said it had agreed with Sovcomflot to postpone the redelivery of the vessel until it completes work in Asia for SCF.

The company added that SCF was seeking further projects for the Vyacheslav Tikhonov after the awarded assignment. Subject to any future agreement, redelivery is expected to occur in the second half of the second quarter of 2020.

“The current ‘charter back’ of the vessel will expire on the vessel’s arrival at the project mobilization port in Asia,” Polarcus stated.

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