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GC Rieber finds Norway lending on-again


Published Dec 11, 2008
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GC Rieber, StatoilHydro form new company

Norwegian lenders have come through with financing for Norway-based shipping company GC Rieber and its business Hexio and their plans to buy survey vessel Geo Explorer.

The $16.7 million long-term “mortgage” loan from once-besieged Norway bank DnB NOR suggested credit worries for shipping companies have eased, at least in Norway. Norwegian exporters were recently extended loan guarantees by the Norwegian government to ensure all their new-build ships were financed.

GC Rieber out of Bergen, Singapore and Russia operates six special-purpose vessels in the offshore sub-sea, ice research and marine seismic fields. The company has four new-builds awaiting delivery from 2009 to 2010.

Tags: GC Rieber Shipping ASA



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