Early Termination for Viking’s AHTS Vessels

 

As previously communicated, Viking Supply Ships has entered into an agreement with a major oil company for the charter of three vessels. The contract applies to the drilling seasons 2014 and 2015, with options for the drilling seasons 2016 and 2017. The drilling season is expected to commence around April / May each year.

As a result of the 2015 drilling season has been cancelled, Viking Supply Ships has received an early termination for Brage Viking, Magne Viking and Balder Viking, which applies for the 2015 drilling season, as well as remaining optional periods of the contract.

According to the contract, an early termination fee is payable.

The company is currently assessing several alternative contract opportunities for the vessels in harsh environments.