Stock Exchange Notice

Date: 18 December 2017

GC Rieber Shipping - Nexans extends the charter for Polar King  

Reference is made to stock exchange notice 31 March 2016 and 15 September 2016 concerning the contract with Nexans Skagerrak AS (Nexans) for the construction support vessel Polar King. The 21 months charter commenced in January 2017, and the previously agreed firm period was set to end in September 2018.

GC Rieber Shipping and Nexans have agreed to extend the firm period of the charter with 11 months, meaning the vessel will be employed through August 2019. The vessel will continue to support the world wide operations of Nexans.

 "We are pleased to see that the vessel, crew and our organizational capabilities are recognized by Nexans in a competitive market. We look forward to continuing the good cooperation with them", says CEO Christian Berg.  

For further information, please contact:

Christian Berg, CEO, phone: +47 974 05 553
Christoffer Knudsen, Director of Chartering, phone: +47 926 18 226

About GC Rieber Shipping:

GC Rieber Shipping's business within offshore/shipping includes ownership in specialized vessels, high quality marine ship management and project development within the segments subsea, ice/support and marine seismic.

The group has a specialized competence in offshore operations in harsh environments as well as design, development and maritime operation of offshore vessels.

GC Rieber Shipping currently operates and has direct and indirect ownership in 11 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments.

The company has its headquarter and a ship management office in Bergen, and an additional ship management company in Yuzhno-Sakhalinsk (Russia). The company is listed on Oslo Børs with ticker RISH.

Further information is available on the company's website www.gcrieber-shipping.com.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.