GC Rieber takes delivery of its new seismic vessel Polar Empress

Today, May 26, 2015, GC Rieber Shipping has taken delivery of its seismic newbuild vessel, the Polar Empress, from Kleven-owned Myklebust Verft, in Norway.

The vessel is chartered on a five-year contract to Dolphin Geophysical.

“We have looked forward to take delivery of the Polar Empress, which is one of the largest and most advanced seismic vessels in the world. The construction of the vessel makes it particularly suitable for operations in the arctic, an area of strategic priority and expertise for GC Rieber Shipping. With the ‘Polar Empress’ we are strengthening our position within the high-end seismic segment,” says CEO Irene Waage Basili.

The Polar Empress is a 3D seismic vessel with ice-class 1A. The vessel is 113 meter long and 21.5 meter broad, and can accommodate 70 crew. With high pollard pull the vessel can tow up to 22 streamers.

In addition to Polar Empress, GC Rieber Shipping’s fleet of seismic vessels consist of Polar Duke, Polar Duchess and Polar Marquis, which are all chartered on contracts to Dolphin Geophysical.

The contract between GC Rieber Shipping and Kleven was signed in February 2013.

GC Rieber Shipping’s cost for the new vessel is about NOK 700 million ($90.56 million). 70 percent of the purchase price is financed through a long-term loan drawn in DNB, Export Credit Norway and GIEK.

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