New joint venture partner for GC Rieber Shipping

Bergen - GC Rieber Shipping’s joint venture partner Primorsk Shipping Corporation (Prisco) has sold its 50 percent ownership share in the vessel “Polar Pevek” to Maas Capital Offshore, a company wholly owned by ABN AMRO Bank of the Netherlands. Maas Capital Offshore is an investment fund focusing on Offshore Oil & Gas Services. The joint venture between GC Rieber Shipping and Prisco was established in 2006 when “Polar Pevek” was built.

“Polar Pevek” is on a long-term charter to Exxon Neftegas Ltd until 2021 and operates off the De-Kastri oil terminal, assisting tankers carrying oil from the Sakhalin I offshore project in eastern Russia. “I would like to take the opportunity to thank Prisco for a good and professional cooperation over the last decade in this project,” says CEO Irene Waage Basili in GC Rieber Shipping. “At the same time, I look forward cooperating with Maas Capital Offshore as our new partner”.