Rieber's fleet activity tumbles big-time

The offshore carrier saw its fleet utilization drop to 48 percent last year. Including its seismic vessels, placed in a joint venture with Rasmussengruppen, Rieber impaired its fleet value by more than NOK 500 million.

by SØREN PICO

The challenging conditions in the offshore market put a big damper on Norwegian GC Rieber Shipping's activities in 2016. Lower fleet utilization and impairments pulled the carrier's bottom line into a deep deficit, shows the company's annual report.

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Impairments keep Norwegian Rieber in the red
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