The Singapore-listed offshore services company said the charterer has decided not to exercise its option to extend the charter for an additional one year.
“Instead, the parties have entered into an Addendum pursuant to which the charterer will extend the charter for one firm calendar month at the existing charter hire and have two options, to extend the charter for an additional calendar one month each, at the existing charter hire,” CH Offshore said in a statement.
The company added that it will use its “best efforts” to redeploy the vessel Amethyst. It went on to say that the expiry of the charter may affect the company's performance for the financial year ending 30 June 2013 as the current market rates are not as lucrative as the rates locked in four years ago.
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