Date: 15 September 2016

GC Rieber Shipping - Nexans exercises option on Polar King

Reference is made to stock exchange notice from GC Rieber Shipping 31 March 2016 concerning an 8.5 months firm contract with Nexans Skagerrak AS for the CSV Polar King.

The contract provides Nexans with options for extension, and Nexans has now declared the 13 months option of extension effective from September 2017, ensuring vessel employment through September 2018. Further extensions may be declared at a later stage.  

The charter will commence in the beginning of January 2017, and Polar King will conduct survey, trenching and cable laying activities in Norway, the North Sea, the Mediterranean and Canada.

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 13 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments, of which the company owns 11.

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

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