FEBRUARY 25, 2013 — Norway's G.C. Rieber Shipping reports today that agreements with Kleven Verft to build a new seismic vessel and charter agreements with Dolphin Geophysical have received board approval and are now firm.

According to shipbuilder Kleven Verft, the newbuilding contract, which includes an option for a second vessel, is worth around NOK 700 million (about $123.5 million).

To be built to Ice Class 1A*, the arctic capable vessel is being built to a new ST 324 XT design by Skipsteknisk

Skipstkeknisk says the ST-324 XT has been developed in close cooperation with the owners, can tow up to 22 streamers and is designed with high ice class for operations in arctic waters.

The vessel will incorporate lots of built-in experience from G.C. Rieber's ST-321 design vessels, Polar Duke and Polar Duchess, says Skipsteknisk.

The newbuild is scheduled to be delivered from Kleven's Myklebust shipyard in March 2015 and start work immediately on a 5-year charter with Dolphin Geophysical that includes an option for an additional 6 years.