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    G C Rieber Shipping invests in newbuilds

    Vessel & ROV News // May 8, 2008

    GC Rieber Shipping is investing approximately NKr 600 million in four specialized vessels.

    The newbuilds, the first of which is due for delivery during the first half of 2009, will be outfitted for various offshore functions, including subsea operations. 

    The vessels, which are being designed by Marin Teknikk in Norway, will be 75/80m in length with a breadth of 17m and will have diesel electric machinery and accomodation for up to 70.

    The vessels will be owned by a joint venture company registered in Singapore, in which GC Rieber Shipping will own 51 per cent, equivalent to an investment of slightly over NKr 600 million.
     
    Two of the vessels are scheduled to be chartered to the 52 per cent owned subsidiary Technocean. Each will be equipped with an offshore crane and ROV hanger.

    "The new vessels give us the opportunity to become a global player with competitive tonnage," said Technocean's CEO Bjarte Fagerås. "We have highly competent personnel available to man the new vessels."

    In conjunction with the investment in the newbuilds, GC Rieber Shipping has resolved to establish an operational organisation in Singapore.

    The company said it regards market potential in Asia as "attractive" and further notes that operating the vessels in the Singapore region will ease recruitment of marine crew.

    The company did not announce where the newbuilds would be built.

     

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