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GC Rieber offloads CSV

Photo of Grant Rowles Grant RowlesAugust 21, 2020
443 Less than a minute

Norway’s GC Rieber Shipping has sealed a deal to sell 2011-built IMR/construction support vessel Polar King.

While the buyer and price were not named, VesselsValue puts a $21.8m market value on the ship.

GC Rieber said that proceeds from the sale will be used to repay outstanding debt on the vessel in full, and the sale will lead to an impairment of $5m.

The sale leaves GC Rieber with two CSVs, Polar Onyx and Polar Queen, as well as two crew boats and an ice-breaking tug.

Photo of Grant Rowles Grant RowlesAugust 21, 2020
443 Less than a minute
Photo of Grant Rowles

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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