EMGS Inks New Charter for BOA Thalassa

Electromagnetic Geoservices (EMGS) has signed a new charter agreement for the vessel BOA Thalassa with BOA SBL, the owner of the vessel, at new and improved commercial terms.

The new terms are valid through October 01, 2019 with an option to extend the agreement through April 01, 2021.

EMGS and the owners have agreed to a reduction of the charter hire rate by approximately 20%.

EMGS and BOA SBL have also agreed to some additional flexibility during 2017.

The new contract will have a firm start on October 01, 2017, but the vessel remains available as an option to EMGS, on a project by project basis between April 01 and October 01, 2017.

The new terms are valid in this period, EMGS noted.

“We are pleased to see that our suppliers continue to contribute to the targeted cost savings in the company. The new terms provide for a sound commercial basis when the market turns and provide a level of desired flexibility over the course of 2017,” said Christiaan Vermeijden, CEO of EMGS.

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