EMGS Strikes New Charter Deals with BOA

Norway’s Electromagnetic Geoservices (EMGS) has signed an extended charter agreement for the vessel BOA Thalassa with BOA SBL AS at new and improved commercial terms. The new terms are valid as of October 1, 2015.

“We are very pleased with this new agreement. It lowers our cost commitment and gives us operational flexibility,” says Stig Eide Sivertsen, CEO of EMGS.

Following the agreement, EMGS will re-deliver the BOA Galatea on December 15, which originally was the expiry date for BOA Thalassa. The charter agreement for BOA Thalassa will be extended from 17 July, which originally was the expiry date for BOA Galatea, until 1 April 2017.

According to EMGS, this deal provides it with improved commercial terms, which will benefit the company under the current contract work in Malaysia and going forward. The agreement includes different rates for when the vessel is in operation, idle or laid up.

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