GC Rieber slashes loss as Berg takes charge

Logistics Offshore

Norwegian offshore vessel owner reduces red ink on the back of higher utilisation.

GC
Rieber
Shipping
has
chopped
its
first-half
loss
thanks
to
higher
utilisation
as
new
boss
Christian
Berg
takes
the
helm
today.

The
Oslo-listed
owner
reported
a
normalised
net
deficit
of
NOK
60.8m
($7.6m),
compared
to
NOK
89.3m
in
the
previous
year.

This
figure
included
an
impairment
charge
of
NOK
25.3m,
GC
Rieber
said.

Fleet
utilisation
rose
from
45%
to
81%
and
the
company’s
contract
backlog
stood
at
NOK
463m.

Its
revenue
went
up
from
NOK
117m
to
NOK
132.8m,
GC

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Nick Roumpis