Electromagnetic Geoservices (EMGS) has reached an agreement with North Sea Commander Shipping over the extension of a vessel charter on a reduced rate.
Under what EMGS describes as “new and improved commercial terms”, the 3,538-dwt Atlantic Guardian (built 2001) will enter into a new five-year charter.
But its daily rate will be chopped by approximately 27%, EMGS said.
Christiaan Vermeijden, chief executive of EMGS, said: “We are pleased to see that our suppliers are contributing to the targeted cost savings in the company.
“The new terms provide for a sound commercial basis when the market turns.”
