GC Rieber Shipping has extended the charter agreement for Polar Prince with Technocean. The contract is extended from June 2009 until July 2011, with an option for further extension of up to 1 year. From August 2009, Technocean will use Polar Prince for subsea operations, including cable laying, related to offshore wind farms in the UK, Germany and the Netherlands.
Polar Prince is currently on a charter to Technocean, which supplies IMR (Inspection, Maintenance and Repair) services for Total offshore Congo. From August 2009, Technocean will use Polar Prince for subsea operations for the company Subocean, which is specialized on subsea services in connection with installation of offshore wind farms.
Sven Rong, CEO of GC Rieber Shipping, is satisfied with Technocean's new contract within a segment with significant future potential. "Offshore wind farms is an early phase market, where the need for subsea operations is substantial. By building experience within this area, we position ourselves for a large future market."