EMGS has entered into an agreement to charter the platform supply vessel Siem Mollie for 3 years. The company has also declared an option to extend the current charter for the vessel Sasha until first quarter 2010. Both vessels are owned by Siem Offshore Inc.


Siem Mollie is under construction in Norway, and the vessel is scheduled for delivery to EMGS on Aug. 1, 2007. Siem Mollie will be operational shortly thereafter. It will become the fifth vessel in the EMGS fleet.


EMGS has agreed to pay a dayrate of US $28,500, increasing to $29,500 per day when certain upgrading paid by the ship owner is finished.


Sasha is already a part of the EMGS operational fleet. The company has now decided to extend the current charter for this vessel until first quarter 2010. The parties have agreed on a dayrate of $28,500


“This represents an important step forward in building EMGS' seabed logging capabilities,” said Terje Eidesmo, chief executive officer of EMGS. “With the fifth vessel in place and two more purpose-built vessels coming during 2008, EMGS’ growth is secured through 2008.”



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