Peerless charges $29,000 a day for oilfield vessel

Vol 4, PW 1 (16 Feb 00) News in Brief

Peerless Shipping & Oilfield Services has hiked the daily hire rate for deployment of its MSV Peerless-Stena II vessel.

In a communication to the Bombay Stock Exchange, Peerless said ONGC has finalised a fresh charter hire contract for three years for deployment of the vessel at $29,000 per day against the earlier rate of $21,500 per day. The new contract came into effect at noon, February 3rd, 2000.

The company won the contract in a global tender floated by ONGC. Peerless said the vessel has been chartered to Coflexip Stena Offshore Asia Pacific for work on a turnkey construction at Bombay High, as a sub-contractor to Hyundai Heavy Industries, for ONGCs pipeline replacement project (CRM P-1).

The likely minimum duration of this job is 30 days with effect from January 25th.