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GC Rieber Enters into Agreement to Sale IMR Vessel

Source: www.gulfoilandgas.com 8/20/2020, Location: Europe

GC Rieber Shipping has entered into an agreement to sell the IMR vessel Polar King, built at Freire Shipyard in 2011. Due to the sale, an impairment of approximately USD 5 million for Polar King is expected to be recognized as per 30.06.2020. Proceeds from the sale will be used to repay the vessel's outstanding debt in full.

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