Due to ongoing military action in Ukraine and related sanctions against Russia,
GC Rieber Shipping provides an update regarding its assets in Russia.
GC Rieber Shipping has 50% ownership in two vessels located at Sakhalin Island,
in far east Russia. The ice-breaker tug Polar Pevek has operated for the same
client since 2006 and the contract is firm until September 2023. The crew
transfer vessel Polar Piltun is in seasonal lay-up.
Another vessel previously owned 50% by GC Rieber Shipping, Polar Baikal, has
been in layup since 2020 and was sold in February 2022 to an undisclosed buyer.
The sale has limited accounting effect.
GC Rieber Shipping is monitoring the situation closely to comply with all
sanctions and will revert with further information if the contract status
Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184
Christoffer Knudsen, CCO, GC Rieber Shipping, phone: +47 926 18 226
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-shipping.com.
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.