EMGS Extends Charter Agreement for EM Leader

Source: www.gulfoilandgas.com 12/10/2014, Location: Europe

EMGS has signed an extended charter agreement for the vessel EM Leader with Seatrans (owner of the vessel) at new and improved commercial terms. The previous agreement was up for renewal.

"We are very pleased with this new agreement. It maintains our flexibility to reduce our vessel costs by approximately 25% if needed, and at the same time, it secures our revenue capacity for four vessels. This is in line with our strategy to retain a flexible business model," says Roar Bekker, CEO of EMGS.

EMGS will charter the vessel for two years and has 2 x 1 year options for extension. The agreement includes different rates for when the vessel is in operation, idle or laid up. The new operational rate represent a significant saving compared to the previous.

The agreement provides EMGS with increased operational flexibility and improved commercial terms, which already will benefit the Company when the vessel commences the newly announced contract in Uruguay on 15 December 2014.

Norway >>  3/22/2023 - Ocean services provider DeepOcean strengthens its offering to the offshore renewables and oil and gas industries by entering a two-year time charter a...
Thailand >>  3/21/2023 - Valeura Energy Inc. (TSX:VLE) (“Valeura” or the “Company”), the upstream oil and gas company with assets in the offshore Gulf of Thailand and the Thra...

Netherlands/Holland >>  3/20/2023 - SAMSKIP, global logistics solution providers with offices in 24 countries, is venturing into “zero carbon emission free shipping services” by contract...
United Kingdom >>  3/8/2023 - RWE, in partnership with Commercial Rib Charters (CRC), can share a first look at the innovative amphibious vessel ‘CRC Walrus’ which has been designe...

Related Categories: Barrels & Containers  Dish Ends  General  Glass Lined Tanks  Metal Pressure Vessels  Metal Tanks  Plastic Pressure Vessels  Plastic Tanks  Steel Plates  Vessels Internals 

Related Articles: Barrels & Containers  General  Glass Lined Tanks  Metal Pressure Vessels  Metal Tanks  Plastic Tanks  Steel Plates  Vessels Internals 

Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.