Dolphin Exercises Option to Charter 3D Seismic Vessel Sanco Sword

Dolphin has exercised the option and signed a long term time-charter on the 3D seismic vessel Sanco Sword from Sanco Shipping AS, for an initial 5 year firm period with options to extend for additional 3 times 2 years.

The Vessel is the second purpose built high capacity 3D seismic vessel to be delivered from Kleven Maritime’s Myklebust Yard in Norway to Sanco Shipping. She is the sister ship of Sanco Swift, also chartered by Dolphin. Sanco Sword is scheduled to be delivered from the yard in April 2014.

Atle Jacobsen, CEO commented, “Sanco Sword will be the fourth high capacity 3D seismic vessel to be operated by Dolphin and position us with one of the most modern and efficient fleets in the industry. The delivery timing of the vessel is ideal during a further strengthening of the marine seismic market”

Ivar Slettevoll, Managing Director Sanco Shipping commented, “we are pleased to further expand our good business relationship with Dolphin Group. The Sanco Sword will, as her sister ship Sanco Swift, be built by Kleven Maritime yard in Norway. The vessel is characterised by high transit speed, and industry leading bollard pull which will enable large and wide tow configurations. Furthermore, the vessel will be equipped with the newest engine technology that will provide safe and fuel efficient operations for the charterer. The Sanco Sword is fully financed and we look forward to start the building project with Kleven Maritime’s Myklebust Yard”