Norway’s GC Rieber Shipping has fallen to a loss in the second quarter as it booked an impairment charge on its fleet.
The seismic survey shipowner said the net deficit to 30 June was NOK 453.8m ($54.52m), compared to a profit of NOK 103.4m in 2015.
It blamed low activity and the impairment of NOK 335.5m due to a further reduction in market values for the fleet in the highly challenging offshore market, as well as uncertainty related to the vessels' future earnings.
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