Tenders are invited for Inviting Expression Of Interest For Chartering Out Tug-Vii On Long Term Bare Boat Charter
KOV owns the Endeavour jack-up rig operated by the Company in the Cook Inlet of Alaska under a Bare Boat Charter
agreement with Buccaneer's wholly owned subsidiary, Kenai Drilling, LLC, which expires on 29 October 2017.
The two Titan storage vessels fly the Panamanian flag, but they are owned by offshore companies linked to the Singapore-based Tulshyan Group, which hired them out in 2010 to Hong Kong-based Titan Petrochemicals under a five-year bare boat charter
, an arrangement where Tulshyan has no staff managing or operating the vessel.
Bare boat charter
, when just the vessel itself is hired and the people going on holiday - one of whom must be qualified - are responsible for everything on board from navigation to catering.
On the island, Argo Diving Services (510-2208), Avalon Charter Company (510-1301), Boat Charter (510-1097), Catalina Sportfishing (510-1078), and Pacific Bare Boat Charter
(510-9175) all cater to divers and fishermen.
Unlike the vessels on bare boat charter
, vessels on time charter can go off hire.
KOV is also putting in place additional financial arrangements that require no additional lump sum payment from Buccaneer, to facilitate this Buccaneer has agreed to an increase in the Bare Boat Charter
fee 15% - 20%.
Expression of Interest for Chartering out it s Trailer Suction Hopper Dredgers DCI DR XVI and XVII, 7400 Cum hopper capacity eachon long term Bare Boat charter
KOV anticipates over the over the next 5 years both the OCBC and AIDEA facilities will be fully repaid by revenues received under the Bare Boat Charter
The company will continue to operate the Drill Star under a bare boat charter
agreement until approximately September 2001.