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GC Rieber Shipping sells SURF vessel to Taiwanese offshore wind contractor

Norwegian owner and operator GC Rieber Shipping has sold the 2014-built SURF/construction vessel Polar Onyx to Taiwan-based offshore wind service player Dong Fang Offshore, a subsidiary of Hung Hua Construction.

Delivery is expected to take place in the first quarter of 2022 and includes a vertical laying system (VLS) tower onboard the vessel set to become a cable layer. 

The sale will result in a positive liquidity effect of around $20m after repayment of the vessel`s outstanding debt and an impairment of approximately $3m.

Einar Ytredal, CEO of GC Rieber Shipping, said: “The sale concludes a multi-year strategic process in converting GC Rieber Shipping into a modern project-house; delivering profitable and sustainable maritime projects. Following seven years of a depressed market, the company is emerging reshaped, debt free and excellently positioned as an attractive maritime partner, ready to invest in new vessel solutions contributing to the energy shift.”

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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