GC Rieber Shipping terminates vessel contract after Ceona defaults

Norwegian ship owner GC Rieber Shipping has terminated a contract it had with Ceona for the subsea vessel “Polar Onyx”.

The company said the termination of the 5-year contract signed in March 2014, was due to Ceona’s default.

“Ceona has provided security, by way of cash deposit in a Norwegian bank, equivalent to nine month’s hire, towards GC Rieber Shipping for the fulfillment of Ceona’s obligations under the charter agreement.

“GC Rieber Shipping will seek to recover outstanding and future claims and losses through the established cash deposit. In addition, GC Rieber Shipping will seek to recover excess amounts through Ceona,” GC Rieber Shipping said in a statement on Friday.

Offshore Energy Today has reached out to Ceona, seeking more info on the reasons behind the default. We will update the article should we get the response from the SURF contractor.