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GC Rieber Shipping Enters into Charter with Ceona for Subsea Newbuild

08 March 2013

GC Rieber Shipping has entered into a charter agreement with Ceona Services (UK) Limited (Ceona) for its high capacity subsea newbuild for a fixed period of five years, with options for up to five years.

The vessel will commence working for Ceona immediately upon delivery from Ulstein Verft in the first quarter of 2014.

Ceona is a London-based SURF-player and aims to grow their position as a global subsea company. Ceona is majority-owned by GS Capital Partners funds.

"GC Rieber Shipping has strengthened its position in the high end subsea segment over the last years. We look forward to cooperating with Ceona in the years to come" said Irene Basili, CEO at GC Rieber Shipping.

The newbuild contract was placed in June 2012 at an investment of approximately NKr 800 million, with GC Rieber Shipping holding an option for one additional vessel.

After entering into the contract, GC Rieber Shipping has a total backlog of about NKr 3.5 billion.

The high capacity newbuild is a construction support vessel (CSV) designed for operations in harsh, deep water, with a length of 130m and a 25m beam. The vessel is built to the highest standards for dynamic positioning, DP3, and is equipped with a 250 tonne AHC offshore crane.

The ship is designed to operate in the SURF market, with capacity for pipe loads below deck and on main deck, and a vertical pipe laying system above the moonpool. The ship can accommodate 130, and is built according to the latest international environmental standards.

Ceona will equip the vessel with a 270 t vertical lay system (VLS).