GC Rieber turns deficit into profit with one acquisition
An acquisition of Schlumberger's seismic business helped push Norwegian GC Rieber into the black, shows annual report.
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An acquisition of Schlumberger's seismic business helped push Norwegian GC Rieber into the black, shows annual report.
Norwegian seismic carrier Shearwater, owned by GC Rieber and the Rasmussen Group, acquires Schlumberger's seismic company in a transaction valued at USD 650 million.
There are several bright spots in the offshore market for the short term, says Norwegian GC Riever, despite the fact that the first quarter saw a challenging business environment and new deficit for the offshore carrier.
Norwegian Shearwater, owned by GC Rieber and Rasmussengruppen, reports an improved market and expands its order book with several new contracts.
Norway's Shearwater, owned by GC Rieber and Rasmussengruppen, has won a large job from Total and Eni off the coast of Myanmar, informs the company.
A share issue for NOK 100 million and new debt conditions give Norwegian offshore carrier GC Rieber a financial respite and room to maneuver.
GC Rieber Shipping's new CEO, Christian W. Berg, will position the carrier for growth - either through consolidation or by acquiring distressed vessels, he tells ShippingWatch.
Rieber Shipping has trimmed a big chunk off its half-year deficit compared to last year, shows the interim report. But the offshore carrier, where a new CEO is taking over today, does not think that rates are cause for optimism.
Following a USD 90 million deficit in 2016, the former Viking Supply Ships CEO Christian W. Berg will play a key part in turning developments around at Norwegian GC Rieber Shipping. ShippingWatch has interviewed Chairman Paul-Chr. Rieber about the opportunities facing the carrier.
Christian W. Berg has been tapped as new CEO of Norway's GC Rieber. He will begin in his new job in August, close to a year after stepping down as CEO of Viking Supply Ships.
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