Sovcomflot withdraws Vyacheslav Tikhonov redelivery with Polarcus

Russian company, Sovcomflot, has withdrawn redelivery notice for Vyacheslav Tikhonov seismic vessel with Polarcus.

In December of last year the companies agreed to postpone the redelivery of the vessel until the completion of work which Sovcomflot secured in Asia.

The redelivery was expected in Q2 2020, but Sovcomflot decided to withdraw notice of redelivery in light of further project opportunities, after it completed the project in Asia.

Polarcus will not receive charter hire from 31 May 2020 until startup of a new project anticipated to start in Q3 2020.

Redelivery of the vessel is now expected to be following completion of the new project, or alternatively, on short notice if no project is awarded for the vessel in the summer season, the company noted.

The Vyacheslav Tikhonov is a high ice class 8 streamer vessel suited for 3D XArray exploration requiring cable separations of 160 to 200 meters. 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.