The newest edition to Dolphin’s fleet, high-capacity purpose-built vessel M/V Polar Empress, owned by GC Rieber Shipping, had its helideck installed this week.
The seismic company Dolphin Geophysical has contracted the vessel for a fixed period of five years, and the high end vessel will enter this contract directly upon delivery from the yard in March 2015.
The ST-324 XT Design is to be delivered from Kleven Maritime’s Myklebust Yard in Norway.
The advanced seismic vessel will have ice-class 1A, which enables it to navigate in and out of ice infested areas. The vessel will be 113 meters long and 21.5 meters wide, and will have the capacity to accommodate 70 people.
The vessel will be equipped with the capacity to tow 22 streamers.
Earlier in Q3, Dolphin secured an attractive lease terms offered for complete streamer seismic equipment package for Polar Empress, effectively reducing capital expenditure from USD 70 million to USD 40 million.
Despite the challenging seismic market, Dolphin’s increased 3D vessel capacity has seen revenues rise in the third quarter to $128.5 million, versus the $70.1 million same period last year.