GC Rieber Shipping - M&A Activity 2018

GC Rieber Shipping: 4-month charter for Polar Queen

Stock Exchange Notice

Date: 16 February 2018

GC Rieber Shipping: 4-month charter for Polar Queen

GC Rieber Shipping has entered into a time charter agreement with a European

offshore client for the CSV vessel Polar Queen for a fixed period of four months

with options to extend by up to one month. With this charter, all GC Rieber

Shipping subsea vessels have secured contracts for the summer season 2018.

The Polar Queen will be used in British sector to perform walk-to-work duties

and commencement will be in May 2018.

"We are pleased to see Polar Queen build on her success in the walk-to-work

market and secure a new substantial charter with Tier 1 clients. With this

charter, GC Rieber Shipping is sold out for the summer of 2018. Both Polar King

and Polar Onyx are now on solid long terms charters, and the agreement for Polar

Queen proves the robustness of our crew and organizational capabilities", said

GC Rieber Shipping CEO, Christian W. Berg.

For further information, please contact:

Christian W. Berg, CEO, phone: +47 974 05 553

Christoffer Knudsen, Director of Chartering, phone: +47 926 18 226

About GC Rieber Shipping:

GC Rieber Shipping's business within offshore/shipping includes ownership in

specialized vessels, high quality marine ship management and project development

within the segments subsea, ice/support and marine seismic. The group has a

specialized competence in offshore operations in harsh environments as well as

design, development and maritime operation of offshore vessels.

GC Rieber Shipping currently operates and has direct and indirect ownership in

11 advanced special purpose vessels for defined markets within the subsea,

ice/support and marine seismic segments.

The company has its headquarter and a ship management office in Bergen, and an

additional ship management company in Yuzhno-Sakhalinsk (Russia). The company

is listed on Oslo Børs with ticker RISH.

Further information is available on the company's website www.gcrieber-

shipping.com.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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