Rieber offloads Polar Prince
Aiswarya Lakshmi
Friday, May 29, 2015
GC Rieber Shipping has entered into an agreement to sell subsea vessel "Polar Prince", which the company had built in 1999.
The transaction gives GC Rieber Shipping an accounting gain of approximately NOK 10 million ($1.3 million).
The construction support vessel (CSV) is expected delivered to new owners in early June, states an announcement.
The vessel was built at Flekkefjord Verft in Norway in 1999. It is a purpose built, multi-functional DP2 construction support vessel optimised to perform in severe sea and weather conditions.
The vessel has since its delivery been chartered by several major subsea contractors for inspection, maintenance and repair duties (IMR) on subsea installations. Polar Prince has undertaken heavy-duty ROV and construction support duties at water depths in excess of 3 000m
GC Rieber recently took delivery of its 3D seismic vessel, the Polar Empress.