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GC Rieber secures three year time charter for Polar Onyx

Polar Onyx Polar Onyx

FEBRUARY 1, 2018 — Bergen, Norway, headquartered GC Rieber Shipping has entered into a time charter agreement with Deepocean BV for the SURF vessel Polar Onyx for a fixed period of three years with options to extend by up to two years.

The Polar Onyx will be used in Ghana to support Deepocean's contract with Tullow Oil. Commencement is immediately and mobilization has begun.

Delivered by Norway's Ulstein Verft shipyard in 2014 and featuring the iconic Ulstein X-bow, the 130 m Polar Onyx is a high capacity flexible pipelay and subsea construction vessel built for harsh conditions and deep waters. It is fitted with a 275 t vertical lay system which is capable of installing flexible pipe and umbilicals of 50 - 630 mm OD in up to 3,000 m water depth.

"We are very pleased to have secured a long-term charter agreement with Deepocean where we maintain a position to benefit from improving market conditions," said GC Rieber Shipping CEO, Christian W. Berg. "The Polar Onyx proves yet again its market attractiveness being selected for the first long term subsea charter in a while. We look forward to servicing Tullow Oil in close cooperation with our client Deepocean."

The GC Rieber fleet includes three vessels which can provide a wide range of services such as offshore construction, Inspection Maintenance and Repair (IMR), walk-to-work, ROV survey, plowing, cable laying and pipe laying (SURF) operations.

In addition to Polar Onyx, Polar King is on contract with Nexans until August 2019, while Polar Queen is being actively marketed.

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