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    GC Rieber Shipping divests Polar Queen

    Company News // June 11, 2010
    GC Rieber Shipping and Acergy have entered into an agreement for the sale of the subsea vessel Polar Queen.
    Polar Queen was built in 2001, acquired by RISH in 2005, converted to a flexi pipelay and light CSV in 2006 and is currently on long term charter to Acergy until 2012, after which Acergy has options to charter the vessel for another four years.
    The sale, which is expected to be completed this month, generates earnings per share of about NKr 6.4.

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