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    Normand Rover chartered to Pemex with sale option

    News // October 19, 2001
    The Normand Rover, which is presently under construction at Søviknes Verft AS, has been chartered for two years. The gross contract value is approximately $21.5 million (approximately $30,000 per day).

    In addition the charterer has an option to buy the vessel. If the option is declared before delivery, the price of the vessel on the delivery day will be approximately $36 million.

    If the option is declared during the charter period the price is agreed at approximately $34 million. If the option is declared prior to the charterer taking delivery of the vessel, 120 days will pass from delivery from the shipyard before the sale can is concluded. Similarly, should the purchase option be exercised during the vessel charter, 120 days will pass before sale completion.

    The cost price is approximately NOK 280 million. The vessel is scheduled for delivery from the shipyard on 16 November this year and it will operated in the Gulf of Mexico. The end user of the vessel is Pemex.

    Normand Rover is owned by a limited partnership in which Solstad ha an owning share of 25 per cent.

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