GC Rieber Shipping has entered into an agreement with its Joint Venture partner,
to buy its 50% share of the icebreaking tug Polar Circle. Following the purchase
GC Rieber Shipping will fully own the vessel.
“Polar Circle, designed by GC Rieber Shipping and built in 2006, is a testament
to the strong maritime project development potential and excellent design
capabilities within our organization. The vessel is unique and holds strong
development potential. It has solid capabilities in environments that likely
will carry high importance in the years to come”, Einar Ytredal, CEO of GC
Rieber Shipping commented.
The opportune purchase was priced significantly below book value and GC Rieber
Shipping expects an impairment of approx. NOK 27 million in the fourth quarter
Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184
Øystein Kvåle, CFO, GC Rieber Shipping, phone: +47 479 02 919
About GC Rieber Shipping:
GC Rieber Shipping is a shipowner and project-house with focus on developing
profitable and sustainable maritime projects.
Further information about the company, please go to www.gcrieber
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.