ConocoPhillips UK has exercised a further one year option for the Volstad Viking vessel, starting the 2nd of June 2014.
The charter rate is subject to two years of escalation on top of present term. ConocoPhillips UK also has one additional yearly option available.
To remind, Volstad Viking entered into a three years Charter Party with ConocoPhillips in June 2007. The contract has been extended by another two years, until June 2012.
New Contract for Volstad Princess
The Volstad Princess vessels has been assigned a 3 months firm contract with ConocoPhillips. The start of the contract will be in direct continuation on existing charter. Daily charter rate represents a substantial increase on present term. Options given in Charterer’s favor are 1 month plus 2 x 2 weeks + 14 days.