Energy Swan - Contract Extensions / Energy Scout - Contract update

Energy Swan Golden Energy Offshore Services AS (GEOS) is pleased to inform that a contract extension has been secured with Wintershall Norge AS.

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The contract is in direct continuation of the charter contract from 2013. The large PSV Energy Swan was in 2013 chartered for a firm period of 4 years + optional (total of 5 years options). Wintershall Norge AS and GEOS agreed after expiration of the firm period several extensions, latest with firm period to 30 April 2019.

The parties have now agreed that the vessel will remain firm on charter in direct continuation present firm period and till 31 August 2019. The charter rate reflects the market conditions. The parties have further agreed that Charterers continue having options available to charter the vessel as per the original charter (till 30 November 2021).

The Energy Scout’s term contract lapsed in beginning of January 2019 and vessel entered directly spot contract with SNEPCO where vessel is firm until end April 2019 with options.

Terms reflect sport market in region which is reasonably tight on availability of this type of high spec PSV tonnage.

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Please feel free to contact us if you need any further information.

Per Ivar Fagervoll
Chief Executive Officer