GC Rieber Shipping Exits Russian Market

Reference is made to the stock exchange notice 23 March 2022 regarding GC Rieber Shipping’s exit from Russia.

GC Rieber Shipping has entered into a mutual agreement with its customer to terminate the existing charterparty for its 50% owned ice-breaking tug Polar Pevek with immediate effect. The vessel has left Russia, and the process of changing ship manager and reorganizing the crew has started. The vessel will shortly be available for new business opportunities outside Russia.

The crew transfer vessel Polar Piltun, 50% owned by GC Rieber Shipping, remains in lay up in Russia.

GC Rieber Shipping’s remaining activity in Russia is limited. GC Rieber Shipping continue to work closely with its JV partners to identify options for the local ship management company and its staff.
Source: GC Rieber Shipping