Norways’s GC Rieber Shipping has terminated the contract for subsea construction support vessel Polar Onyx, on charter to Ceona, due to a default from the London-based company.
The vessel was delivered in March 2014 and went straight on a five-year charter to Ceona, to be used for advanced deep-water operations with Petronas in Brazil.
In a release to Oslo Bors, GC Reiber Shipping said that Ceona had provided security, by way of cash deposit equivalent to nine month’s hire, and the company will seek to recover outstanding and future claims and losses through the deposit. It will also seek to recover excess amounts directly through Ceona.
Ceona was founded in 2012 and the majority shareholder is Goldman Sachs Capital Partners.