The T-15 and T-16 units have had their contracts extended until July and August 2019, respectively, for a total of $45 million.

This puts the new dayrate at an average of $61,643 each.

Chevron has secured a rate reduction on the duo from 1 October this year, meaning the contract backlog has been cut by $35 million, with the pair originally set to come off their charters in July and August 2018.

The