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    Polarcus puts Nadia in cold stack

    Vessel & ROV News // March 26, 2015

    Seismic survey company Polarcus has confirmed that it has put one of its vessels, Polarcus Nadia, into layup or 'cold stack.'

    Rod Starr, CEO at Polarcus, said that in the current market environment, the recent rapid decline in oil prices and consequent cautious spending by oil companies had negatively impacted the company's earnings.

    "This challenging market environment has led to a more uncertain outlook with pressure on vessel rates and client payment terms, and is also the reason for our decision to cold-stack Polarcus Nadia, the only remaining vessel in our fleet equipped with thrusters as the main propulsion system."

     

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