Polarcus Limited was an offshore geophysical company operating a fleet of seismic research vessels worldwide.
Background
The company was founded in 2008 in Dubai, UAE. After defaulting on debts, lenders took control of the company in January 2021.[4] Shearwater GeoServices bought six seismic acquisition vessels for $127.5 million and streamers and related seismic equipment formerly owned by Polarcus for $50 million.
The company described itself as having a strong environmental focus that aims to decrease emissions to both sea and air.[1] Polarcus vessels have received high energy efficiency and environmental performance ratings.[2][3]
The company was founded in 2008 in Dubai, UAE. After defaulting on debts, lenders took control of the company in January 2021.[4] Shearwater GeoServices bought six seismic acquisition vessels for $127.5 million and streamers and related seismic equipment formerly owned by Polarcus for $50 million.[4]
See also
Polarcus listed its shares on the Oslo Stock Exchange OTC list in 2008, and in 2009 began trading on the Oslo Stock Exchange OSE list, under the ticker PLCS. The company was delisted in 2021.[4]
References
- ^ Predicting, Monitoring And Mitigating Greenhouse Gases In Seismic Vessels' Engine Exhaust, PESA News.
- ^ Polarcus recognises green ship operations as a business advantage, DNV.
- ^ Polarcus Receives DNV Level 1 Triple-E™ Rating, Offshore Energy Today.
- ^ a b c "Seismic Firm Polarcus Set for Business Wind-down, Delisting from Oslo Exchange". Offshore Engineer Digital. June 25, 2021. Retrieved November 3, 2021.