Troubled Middle East shipowner Polarcus is facing legal action after the seizure of its fleet meant it could not service a charter contract.

The Oslo-listed company lost six of its seven seismic survey vessels to its banks in January after defaulting on a loan due to the end of a waiver deal with the lenders.



Polarcus had arranged a one-month charter with Eni for 3D survey work in the Asia Pacific region last July.