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GC Rieber Shipping sells IMR vessel

Norway’s GC Rieber Shipping has entered into an agreement to sell its 2011-built inspection, maintenance and repair (IMR) vessel Polar Queen.

The sale is expected to be completed in March and the company will gain NOK22m ($2.58m) after repayment of the vessel’s outstanding debt.

The vessel will be leaving the offshore industry.

“This is the second sale of vessels since August 2020 and provides GC Rieber Shipping with a further strengthened balance sheet, enabling us to deliver on our strategy to develop new profitable and sustainable maritime projects,” said Einar Ytredal, CEO of GC Rieber Shipping.

In the meantime, the company entered into agreement with DeepOcean to extend the charter of its SURF vessel Polar Onyx until the end of May 2021.

The extended period will be in direct continuation of the vessel’s ongoing charter in Ghana, which started in January 2018.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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