Vyacheslav Tikhonov: Notice of Redelivery Withdrawn

Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) refers to its announcement dated 14 January 2020 regarding the scheduled redelivery of “Vyacheslav Tikhonov” (the “Vessel”).

The Vessel has completed the earlier referenced project in Asia. In light of further project opportunities, the charterers, Sovcomflot, have withdrawn their notice of redelivery. Polarcus will not receive charter hire from 31 May 2020 until startup of a new project anticipated to commence in Q3 2020. Redelivery of the Vessel is now expected to be following completion of the new project, or alternatively, on short notice if no project is awarded for the Vessel in the summer season.

 

Contacts

Hans-Peter Burlid, CFO
+971 50 559 8175
hp.burlid@polarcus.com

 

About Polarcus

Polarcus (OSE: PLCS) is a focused geophysical service provider of safe and environmentally responsible marine acquisition services globally. Our geophysical offering is driven by innovation and collaboration to provide clients with better seismic data faster. Polarcus operates a fleet of high performance seismic vessels with 3D and 4D imaging capabilities, which incorporate leading-edge technologies for improved environmental performance and operational efficiency. Polarcus offers contract seismic surveys and multi-client projects with advanced priority processing solutions including Cirrus, a suite of cloud-based applications and services designed to bring clients closer to acquired seismic data, enabling faster and better informed exploration decisions. The Company services its clients globally from its head office in Dubai and regional offices located in Houston, London, Singapore and delivers Group asset management services from Oslo. For more information, visit www.polarcus.com

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.