Norway: GC Rieber Shipping Agrees to Extend Charter for ‘Polar Prince’ Vessel

GC Rieber Shipping and the subsea contractor Technocean has agreed on a one year extension of the charter regarding vessel “Polar Prince”.

The time-charter with Technocean for the subsea vessel “Polar Prince” has been extended to September 2012. The vessel is engaged in subsea operations related to installations of offshore wind farms in the North Sea.

“We are pleased with the renewal of the contract and the extension fits with our overall fleet plan going forward,” comments CEO in GC Rieber Shipping, Irene Waage Basili.

Technocean is a subsidiary of the subsea service company Reef Subsea. GC Rieber Shipping owns 50% of Reef Subsea.

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Source: GC Rieber-Shipping, August 22, 2011;