GC Rieber Shipping Sells 2D Seismic Vessel ‘Polar Explorer’

GC Rieber Shipping has agreed to sell the 2D seismic vessel “Polar Explorer”, built in 1988.

The vessel has been sold at book value, and the transaction will have a positive cash effect of approximately NOK 45 million.

GC Rieber Shipping’s business within offshore/shipping includes ownership in specialized vessels, high quality marine ship management, project development and industrial portfolio management within the segments subsea, ice/support and marine seismic. The group has a unique competence in offshore operations in harsh environments as well as design, development and maritime operation of seismic vessels.

GC Rieber Shipping currently operates 16 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments, of which 11 are owned by the company.

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GC Rieber Shipping, February 7, 2013