C Rieber Shipping has signed an agreement with Handelsbanken to extend a NOK 250 million credit facility from December 2011 until November 2013.
The credit facility has not yet been utilized by GC Rieber Shipping and the company has thus NOK 250 million available. Combined with solid liquidity, low gearing and long contract coverage on several of the groups vessels, the credit facility gives GC Rieber Shipping strategic flexibility and competitive advantages in the years to come.
For further information, please contact
CEO Irene Waage Basili, phone +47 55 60 68 67, or +47 90 09 86 88
CFO (acting) Einar Ytredal, phone +47 55 60 68 54, or +47 97 52 01 84
About GC Rieber Shipping:
GC Rieber Shipping's business within offshore/shipping includes ownership in specialized vessels, high quality marine ship management, project development and industrial portfolio management within the segments subsea, ice/support and marine seismic. The group has a unique competence in offshore operations in harsh environments as well as design, development and maritime operation of seismic vessels.
GC Rieber Shipping currently owns nine and operates ten advanced, multifunctional special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments. GC Rieber Shipping also owns 65 % of Armada Seismic, which owns one high-capacity seismic vessel and has one newbuilding with estimated completion in the first quarter 2012.
The company has its registered office and headquarter in Bergen with ship management companies in Sevenoaks (UK), Singapore and Yuzhno-Sakhalinsk (Russia), which provides international presence. The company is listed on Oslo Børs with ticker RISH. Further information is available on the company's website www.gcrieber-shipping.no