SeaBird Exploration Plc (“SeaBird”) has chartered the 3D vessel “Geo Pacific” from Fugro, through a subsidiary of Ordinat Shipping AS on a 4 month time charter that is intended to be converted into a 3 year bareboat with four one-year options to extend the contract.
Ordinat Shipping AS is the largest shareholder in SeaBird. Furthermore, SeaBird will also have purchase options on the vessel in year three and, to the extent the lease is extended, year four.
The vessel is fully equipped and will be a valuable addition to SeaBird’s 3D capacity. The Geo Pacific will be SeaBird’s second 3D vessel in addition to the Voyager Explorer.
[mappress] Press Release , January 02, 2013; Image: Fugro