EMGS Secures Atlantic Guardian Reduced Charter Rate Extension
- Business & Finance
Electromagnetic Geoservices (EMGS) has signed an extended charter agreement for the vessel Atlantic Guardian with North Sea Commander Shipping at new and improved commercial terms.
EMGS and the owners have agreed to a reduction of the charter hire rate by approximately 27% and a new 5 year term for the charter.
“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,” says Christiaan Vermeijden, CEO of EMGS.
The new terms are valid as of October 1, 2016.