Polarcus Wins More Work

Polarcus has received multiple awards which together extend the fleet backlog by six vessel months, the Oslo-listed company said on Friday.

The projects will be carried out by multiple Polarcus vessels and start in Q1 and Q2 2016.

Duncan Eley, Polarcus COO, said: “Two of the awards are extensions of current projects. Such extensions reflect the excellent performance of our vessels and are beneficial to Polarcus as the fleet utilization can be optimized by increasing backlog without additional transit, which is a very positive factor in the current challenging market.”

In addition, Polarcus yesterday announced that the conditions for its financial restructuring have now been fulfilled and that the various financing agreements have been amended as contemplated by the restructuring, and consequently the technical transformation of the company’s previously issued Bond Issues has been initiated.

Share this article

Follow Subsea World News

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

Underwater Intervention 2018

UI 2018 will draw the industry’s leaders from across the country and around the globe to gather for 3 days of networking…

read more >

Future Energy Asia Exhibition & Conference (FEA) 2018

The transformation and development of Thailand is a major priority for the government which creates incredible business opportunities…

read more >

HYPACK 2018

This training event will offer instruction on the newest features of HYPACK® 2018 as well as comprehensive training for both novice…

read more >

European Gas Conference 2018

The European Gas Conference celebrated its tenth anniversary amid an air of increasing optimism following considerably shifting markets in the last few years…

read more >