Q3 Results

GC Rieber Shipping ASA had a fleet utilisation of 100% in the third quarter of 2020. The Subsea & Renewables and Ice/Support vessels have contract coverage of 85% for the remainder of 2020.
Operating income was NOK 83.0 million, compared with NOK 74.2 million in the corresponding period of 2019. EBITDA was NOK 3.6 million, compared with an EBITDA of NOK 65.4 million in the third quarter of 2019 GC Rieber Shipping had a net loss of NOK 27.5 million in the third quarter of 2020, compared with a net profit of NOK 17.3 million in the third quarter of 2019. "We are pleased to have seen high activity for GC Rieber Shipping's vessels in the third quarter.", Einar Ytredal, CEO of GC Rieber Shipping commented. "Although recently having secured new short-term charters and extensions to ongoing charters, we expect an upcoming winter season with low activity and rate pressure."