Polarcus Limited was a geophysical research company operating a fleet of modern DP2 seismic research vessels worldwide.
Background
The company described itself as having a strong environmental focus that aims to decrease emissions to both sea and air.[1] Polarcus vessels were the first fleet in the world to receive the DNV accredited Triple E rating for high energy efficiency and environmental performance ratings.[2][3]
Founded in 2008 in Dubai, UAE, Polarcus completed projects across the globe from Greenland to Sakhalin, Russia.[4] After defaulting on debts, lenders took control of the company in January 2021.[5][6] Shearwater GeoServices bought six seismic acquisition vessels for $127.5 million and streamers and related seismic equipment formerly owned by Polarcus for $50 million.[5]
See also
Shares
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.[5]
References
- ^ Predicting, Monitoring And Mitigating Greenhouse Gases In Seismic Vessels' Engine Exhaust, PESA News. Archived 2014-03-16 at the Wayback Machine
- ^ Polarcus recognises green ship operations as a business advantage, DNV. Archived 2014-03-16 at the Wayback Machine
- ^ Polarcus Receives DNV Level 1 Triple-E™ Rating, Offshore Energy Today.
- ^ "Seismic start-up has a green agenda". Riviera. Retrieved 2025-02-07.
- ^ 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.
- ^ "Lenders take control of Polarcus assets after default, shares plunge". financialpost. Archived from the original on 2021-02-21. Retrieved 2025-02-07.
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