Date: 26 May 2015

GC Rieber Shipping takes delivery of its new high-capacity seismic vessel

Today, GC Rieber Shipping has taken delivery of its   seismic new-build «Polar Empress» from Kleven owned Myklebust Verft. The vessel is chartered on a five-year contract to Dolphin Geophysical.

«We have looked forward to take delivery of the «Polar Empress», which is one of the largest and most advanced seismic vessels in the world. The construction of the vessel makes it particularly suitable for operations in the arctic,   an area of strategic priority and expertise for GC Rieber Shipping. With the «Polar Empress» we are strengthening our position within the high-end seismic segment», says CEO Irene Waage Basili.

«Polar Empress» is a high-capacity 3D seismic vessel with ice-class 1A*. The vessel is 113 meter long and 21.5 meter broad, and can accommodate 70 crew. With high pollard pull the vessel can efficiently tow up to 22 streamers. The vessel's propulsion system meets high redundancy requirements, and with CLEAN DESIGN certification the vessel exceeds the latest international environmental standards.  

In addition to «Polar Empress», GC Rieber Shipping's fleet of seismic vessels consist of «Polar Duke», «Polar Duchess» and «Polar Marquis», which are all chartered on contracts to Dolphin Geophysical.

The contract between GC Rieber Shipping and Kleven was signed in February 2013.

GC Rieber Shipping's cost for the new vessel is about NOK 700 million. 70 percent of the purchase price is financed through a long-term loan drawn in DNB, Export Credit Norway and GIEK.

For further information, please contact:

CEO Irene Waage Basili, tel: +47 55 60 68 67 or +47 900 98 688

CFO Einar Ytredal, tel: +47 55 60 68 54 or +47 975 20 184


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 14 advanced special purpose vessels for defined markets within subsea, ice/support and marine seismic segments, of which the company owns 12.

The company has it's headquarter and a ship management company 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

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)