Norway’s GC Rieber Shipping has come to an agreement with the administrators for subsea contractor Ceona, which ceased operations in September.
GC Rieber Shipping terminated the contract for subsea construction support vessel Polar Onyx, which was chartered to Ceona, after the London-based company defaulted on a payment.
As part of a full and final settlement with the administrators of Ceona, GC Rieber Shipping will take ownership of the VLS tower and associated parts installed on the vessel and will be paid around $16.3m from the cash deposit established as part of the charter agreement.
Polar Onyx began a five-year charter to Ceona in March 2014 and was employed in advanced deep-water operations with Petronas in Brazil.
GC Rieber has also announced today that it has entered into a charter agreement with Marine Platforms Limited for the vessel for a fixed period of 60 days with additional options, commencing in January 2016. The vessel will conduct flex-laying activities for Chevron offshore Nigeria.