GC Rieber Shipping has today entered into a charter party with Technocean, a subsidiary of Reef Subsea, for the CSV Polar King (previously "YN 702"). The charter commences in April 2011 for a 3 years firm charter period. The agreement also includes options for 2 years extension after expiry of the firm charter period.
Technocean has entered into several multi-year frame agreement contracts for the period from April 2011 to March 2014 and will utilize the Polar King for various assignments under these frame agreements.
Acting CEO in GC Rieber Shipping, Hans Petter Klohs, comments: "The Polar King has attracted solid interest in the market and we are satisfied to secure a long term agreement for the vessel at market terms. We are also pleased to see that Technocean confirms its position as a competitive international subsea contractor, by recently being awarded several multi-year frame agreement contracts."
The Polar King is of Skipsteknisk ST-254L CD design and is currently being built at Freire yard in Vigo, Spain. The vessel is expected to be delivered from the shipyard in March 2011. The Polar King has a length of 110.6m and beam of 20m. The vessel is fitted with a 150t offshore AHC crane, 112 persons accommodation and 1000m² deck space. Environmental topics have been emphasized in the design.
Technocean is a subsidiary of the subsea contractor Reef Subsea, which is a 50/50 joint venture between GC Rieber Shipping and HitecVision.