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Gc Rieber Shipping News

27 Jan 2023

NES' Energy Design, Smart Control Systems for GC Rieber's Windkeeper Vessels

©NES

Turkish Cemre Shipyard has awarded HAV Group ASA’s subsidiary Norwegian Electric Systems AS (NES) a contract to deliver energy design, and smart control systems for two “Windkeeper” service operations vessels (SOV).The Turkish shipyard is building the Windkeeper for the Norwegian firm GC Rieber Shipping. NES’ scope of work is to manage the complete energy design plus act as system integrator for the vessels’ power system and smart control set-up. NES will supply frequency converters and electric motors for the propulsion system…

28 Oct 2022

Offshore Wind: GC Rieber Shipping Orders Two Service Operation Vessels in Turkey

©WindKeeper

Norway-based GC Rieber Shipping has ordered two WindKeeper Service Operation Vessels for offshore wind operations from the Cemre shipyard in Turkey. The order includes options for two further vessels. The first vessel will be delivered in Q1 2025.According to GC Rieber Shipping, WindKeeper is an innovative Service Operation Vessel (SOV) based on Small Water Area Twin Hull (SWATH) methodology and design.The design offers improved operability, ultra-low fuel consumption, and the option of fully electric operations in field…

17 Feb 2022

GC Rieber Shipping Delivers 'Polar Onyx' to New Owners

©GC Rieber Shipping

Norwegian offshore vessel firm GC Rieber Shipping has delivered the SURF / Construction vessel Polar Onyxto the new owners.GC Rieber Shipping first announced the agreement to sell the vessel to Taiwan-based offshore wind service conglomerate Dong Fang Offshore and Hung Hua Construction back in December 2021."The vessel has today been delivered to the new owner," GC Rieber Shipping said Thursday.The sale of the vessel, built at Ulstein Verft in 2014, includes the VLS tower onboard the vessel…

20 Dec 2021

GC Rieber Sells Polar Onyx Vessel to Taiwanese Offshore Wind Venture

Polar Onyx - Credit: GC Rieber Shipping

Oslo-listed GC Rieber Shipping has agreed to sell its SURF / Construction Vessel Polar Onyx to Taiwan-based offshore wind service conglomerate Dong Fang Offshore and Hung Hua Construction.The delivery of the vessel, built at Ulstein Verft in 2014, is expected to take place in the first quarter of 2022. The sale includes the VLS tower onboard the vessel. "Polar Onyx has since delivery proven herself as a solid and valuable asset in the SURF market. Starting out in Brazil in 2014, the vessel has performed robust operations on three continents on great depths.

08 Jul 2021

GC Rieber Reduces Ownership in Seismic Firm Shearwater GeoServices

A Shearwater GeoServices vessel (Credit:Shearwater GeoServices)

Norwegian offshore vessel operator GC Rieber Shipping is reducing its ownership in the seismic acquisition giant Shearwater GeoServices.GC Rieber said Thursday it had agreed to sell shares in Shearwater decreasing its ownership from 17.0% to 8.5%. Gross proceeds from the sale will be USD 50.5 million, GC Rieber said."The sold shares had book value of USD 41.6 million per 31 March 2021. Following the transaction, which is expected to be completed shortly, GC Rieber Shipping will…

26 Mar 2021

GC Rieber Delivers Polar Queen to Schmidt Ocean Institute

Polar Queen/Credit: GC Rieber Shipping

Norwegian offshore vessel owner GC Rieber Shipping has delivered the Polar Queen vessel to new owners Schmidt Ocean Institute. The company announced the sale of the IMR vessel in February."The vessel has today been delivered to the new owner," GC Rieber Shipping said in a brief statement on Tuesday, without disclosing the name of the buyer. U.S.-based Schmidt Ocean Institute has said it acquired the vessel—now renamed Falkor (too)—for use as an oceanographic research ship.The Polar Queen is an IMR / walk-to-work vessel, built at Freire Shipyard in 2011.

22 Feb 2021

GC Rieber Shipping Nets Extension for Polar Onyx, Sells Polar Queen Vessel

Polar Queen/Credit: GC Rieber Shipping

Norwegian shipowner GC Rieber Shipping has won a contract extension for its Polar Onyx vessel with DeepOcean. Separately, the company said Monday it had agreed to sell the Polar Queen vessel."GC Rieber Shipping has agreed with DeepOcean BV to extend the charter of the SURF vessel Polar Onyx until the end of May 2021," the company said.The extended period will be in direct continuation of the ongoing charter in Ghana, which started in January 2018.Separately. GC Rieber Shipping said it had agreed to sell its IMR / Walk-to-Work vessel Polar Queen…

08 Sep 2020

GC Rieber to Transfer Fleet Management Business to OSM

Illustration - Credit:Adam Kos

Norwegian offshore vessel owner and manager GC Rieber Shipping has signed an agreement to transfer its fleet management services business to OSM Maritime Group, and become a pure shipowner.Under the agreement, GC Rieber Shipping will transfer all technical, crewing, and support functions in Bergen to OSM.OSM will establish a new ship management company within the offshore segment in Bergen, who will be owned 100% by OSM and be located together with OSM Bergen.GC Rieber Shipping currently has 6 vessels under management in Bergen, including vessels under third party management.

02 Sep 2020

New Owners, New Name for the Polar King CSV

Credit: GC Rieber Shipping

Oslo-listed offshore vessel owner GC Rieber Shipping last week completed the sale of its Polar King construction support vessel to, at the time, unnamed buyers.It has now been revealed that the 2011-built vessel was sold to the Greek-based Asso Group who took delivery of the vessel last week in Eydehavn, Norway. The vessel, to be renamed Argo, measures 110m in length, 20m in beam, has a Gross Registered Tonnage of 7,238, and features an ROV Hangar housing 2 Perry Slingsby work-class ROVs…

26 Aug 2020

New Owners Take Over Polar King IMR Vessel

Credit: GC Rieber Shipping

Oslo-listed offshore vessel owner GC Rieber Shipping said Tuesday it had delivered the Polar King inspection, maintenance, and repair vessel to its new owners.The delivery to new owners, who are yet to be named, comes following last week's announcement by GC Rieber that the vessel would be sold and that the proceeds would be used to repay the vessel's outstanding debt in full.The 110.6 meters long Polar King is on a charter (until September) with marine cable supplier Nexans.

20 Aug 2020

GC Rieber Shipping Sells Polar King IMR Vessel

Polar King - Image Credit: GC Rieber Shipping

Oslo-listed offshore vessel owner GC Rieber Shipping has agreed to sell the Polar King inspection maintenance and repair vessel to an unnamed buyer.Due to the sale, an impairment of approximately USD 5 million for Polar King is expected to be recognized as per 30.06.2020. The Bergen-based company said that the proceeds from the sale would be used to repay the vessel's outstanding debt in full. GC Rieber did not provide the financial details of the sale.According to info on GC Rieber Shipping's website…

18 Nov 2019

Shearwater Bags 4D Seismic Gig in APac

Shearwater GeoServices, a marine geophysical services company, has been awarded the largest-ever 4D seismic campaign in the Asia/Pacific region covering up to six fields operated by Woodside offshore Australia.According to the 50/50 joint venture between GC Rieber Shipping and Rasmussengruppen  AS, the campaign, planned to commence in Q4 2019, covers new 4D acquisition over the Pluto, Brunello, Laverda, Cimatti and Vincent fields with an option for one additional field.The 4D seismic campaign will improve Woodside’s understanding of the fields’ production performance over time and provide data to guide future field developments. This is the second 4D seismic campaign award by Woodside to Shearwater following the baseline 4D program in Senegal earlier this year.“By using Isometrix…

17 Sep 2019

Shearwater Wins 1st Project in S. America

Norway-based provider of marine geophysical services, Shearwater GeoServices has been awarded a 3D Isometrix seismic survey by Colombia’s Ecopetrol.It will be Shearwater’s first Isometrix survey in Latin America with marine acquisition starting in Q4 2019, said GC Rieber Shipping ASA's 20% owned geoservices company.The survey covers 2 000 sq. km of 3D seismic offshore Colombia on Ecopetrol’s Block COL-5 and will be acquired by the SW Amundsen equipped with Isometrix multisensor streamer technology.Isometrix streamer technology is a true 3D multisensor system that can record the full seismic wavefield enabling better receiver deghosting and improved seismic images.

22 Aug 2019

GC Rieber Shipping Fleet Utilisation Hits 100%

Norwegian shipping company GC Rieber Shipping ASA had a fleet utilization of 100% in the second quarter of 2019.The operator of offshore subsea support vessels, marine seismic vessels and polar logistics and research expeditions said that the subsea and ice/support vessels have contract coverage of 44% for the remainder of the year while Shearwater GeoServices Shearwater has confirmed backlog of more than 26 vessel-months in the third and fourth quarter of 2019 following the award of multiple seismic acquisition contracts.GC Rieber Shipping had operating income of NOK 91.9 million in the second quarter of 2019, compared with NOK 60.7 million in the corresponding period 2018. EBITDA was NOK 41.3 million, compared with NOK 9.3 million in the second quarter of 2018.

01 Aug 2019

GC Rieber Shipping Nails Nexans Gig

Norwegian offshore shipping company GC Rieber Shipping (RISH) has agreed with Nexans Skagerrak AS, a wholly owned subsidiary of Nexans Norway AS, to enter into a ship management agreement for the cable laying vessel Nexans Skagerrak.The agreement also includes management of the Nexans’ state of the art cable laying vessel Nexans Aurora once it gets delivered from Ulstein yard in 2021, said the operator of offshore subsea support vessels, marine seismic vessels and polar logistics and research expeditions.The agreement is expected to be executed in Q3 2019 and hand over of the vessel to RISH to take place in September 2019.The addition of these two vessels grows RISH fleet of specialized vessels, managed on behalf of third-party owners, from six to eight.

10 May 2019

GC Rieber Sells Ernest Shackleton

Norwegian shipping company GC Rieber Shipping has completed the process of redelivery and sale of the icebreaking research vessel 'Ernest Shackleton' to the new owner Istituto Nazionale di Oceanografia e di Geofisica Sperimentale (OGS).The redelivery of the vessel from British Antarctic Survey (BAS) marked the end of a nearly 20-year relationship between British Antarctic Survey and GC Rieber Shipping, said a press release from the operator of offshore subsea support vessels, marine seismic vessels and polar logistics and research expeditions.Ernest Shackleton was developed by GC Rieber Shipping based on decades of icebreaker experience and built at Kværner Kleven Leirvik in Norway in 1995.The vessel…

27 Mar 2019

Equinor Awards 4D Seismic Gig to Shearwater

Shearwater GeoServices announced the award of a 4D seismic survey at the Troll Unit by Equinor AS to be conducted this summer.The company 20% owned by GC Rieber Shipping ASA said that the project adds further to Shearwater’s 4D program in the North Sea and Barents Sea this season.The Troll Unit survey will last approximately 2 months and be conducted by the Amazon Conqueror using Shearwater's Isometrix system."The award of the Troll Unit project from Equinor adds to our extensive 4D and Isometrix program for the 2019 summer season. We are encouraged by our strong seasonal backlog which reflects an overall increase in 4D survey activity" said Irene Waage Basili…

20 Mar 2019

Shearwater Bags Turkey Seismic Contract

The global provider of geophysical marine seismic acquisition Shearwater GeoServices has been awarded a seismic acquisition and depth processing contract by Turkish national oil and gas company Türkiye Petrolleri Anonim Ortakligi (TPAO).The survey contract covers an area of 2200 sqkm and includes fast track processing, followed by full time and depth processing, but location not revealed.Work will commence in Q2 2019 and will be conducted by the Polar Empress, said a press release.“We are very pleased to see the Polar Empress contracted by TPAO for this 14-streamer survey, following on from efficient operations elsewhere completing ahead of schedule.

21 Jan 2019

GC Rieber Bags Statnett Management Contract

Norwegian shipping company GC Rieber Shipping has won a technical management contract from Statnett Transport for the Norwegian logistics company’s two RoRo vessels.The vessels are the 9,120-bhp Elektron (built 2008) and 1,500-bhp Elektron II (built 1969), said a stock exchange announcement from the company that operates offshore subsea support vessels, marine seismic vessels and polar logistics and research expeditions."The contract has a duration of three years plus options. The vessels are mainly used for subsea works and transport of transformers, generators and turbines to Norwegian energy plants," said the statement.GC Rieber Shipping's business within offshore/shipping includes ownership in specialized vessels…

18 Nov 2018

Shearwater Completes Acquisition of Schlumberger's Seismic Fleet

Norway-based provider of marine geophysical services Shearwater GeoServices Holding  announced the completion of the acquisition of the marine seismic acquisition assets and operations of WesternGeco, the geophysical services product line of Schlumberger.The owner of world’s largest fleet of high-end seismic vessels said in a release that the transaction was completed following receipt of relevant regulatory approvals and satisfaction of customary closing conditions.“We are now an industry-leading full-range geophysical services company with a solid financial and strategic platform. We are eager to move ahead as one strong combined business with global reach…

12 Nov 2018

GC Rieber Shipping Taps Ytredal as CEO

(Photo: GC Rieber Shipping)

Norwegian offshore shipping company GC Rieber Shipping announced acting chief executive officer Einar Ytredal has appointed to the CEO role on a permanent basis. At the same time, Øystein Kvåle was named new chief financial officer (CFO) and Christoffer Knudsen was promoted to chief commercial officer (CCO).Ytredal was appointed acting CEO in mid-September 2018. He has been with the company since 2007, first as vice president finance and then as CFO since September 2011. Before joining GC Rieber Shipping, Ytredal worked at Deloitte.

07 Nov 2018

GC Rieber Shipping CEO Christian Wilhelm Berg Resigns

Norwegian shipping company GC Rieber Shipping said that Christian Wilhelm Berg resigned the position as CEO with effect from 14 September 2018 in order to pursue other opportunities through his wholly owned company, Bech Offshore.Bech Offshore was set up in 2017 with the concept to initiate investment opportunities related to distressed assets within the Offshore Support Segment. Further, the company offered third party owners Commercial Management, Consultancy Services and in-depth market know-how.The activities of Bech Offshore was acquired by and integrated into GC Rieber Shipping when Christian Wilhelm Berg commenced as CEO, but will now be sold back to Bech Offshore.The Board of GC Rieber Shipping will initiate a process to recruit a new permanent CEO.

22 Aug 2018

Shearwater to Buy Schlumberger’s Seismic Business

Norwegian marine geophysical services company Shearwater GeoServices Holding AS has entered into a definitive agreement to acquire the marine seismic acquisition assets and operations of Schlumberger’s geophysical services product line, WesternGeco.The transaction, which remains subject to regulatory approvals and other customary closing conditions, is expected to close in the fourth quarter of 2018.Houston based Schlumberger will receive cash consideration based on an enterprise value of $600 million plus a 15 percent post-closing equity interest in Shearwater. For a limited period, Schlumberger  will be entitled to payments under an earn-out agreement linked to future vessel usage over and above specific thresholds.

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