ROVworld Subsea Information

GC Rieber Shipping announces charter agreements for subsea contractor Technocean
Date: Friday, January 30, 2009 @ 11:30:00 EST
Topic: CONTRACT AWARDS


GC Rieber Shipping announces charter agreements for subsea contractor TechnoceanGC Rieber Shipping and the subsea contractor Technocean, which is a subsidiary of GC Rieber Shipping, have entered into charter agreements for the offshore subsea vessels Polar Prince and Polarbjørn and supply of IMR services.

The charter agreement with the subsidiary Technocean for the vessel Polar Prince is extended until March 2009 with an option for further extension of up to 6 months. The vessel is in transit to Congo in West Africa, where Technocean has entered into an agreement with Total for delivery of IMR services.

Furthermore, a 3 month charter has been agreed with Petromarker for the vessel Polarbjørn. The contract commences early April 2009 and includes an option for a further extension of 3 months. The vessel will operate in the spot-market until start-up of the contract with Petromarker.

The combined contract value for the fixed parts of the agreements is approximately NOK 80 million.

"We are satisfied with the renewal of the order backlog for the part of our fleet that operates on short term contracts, and at the same time we are pleased to observe that Technocean now is awarded a contract from one of the large oil companies and thus become accepted as an international subsea contractor," says Sven Rong, CEO in GC Rieber Shipping.





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