GC Rieber Shipping has completed the sale of its icebreaking research vessel Ernest Shackleton (built 1995).

The buyer has been revealed as Italy's Istituto Nazionale di Oceanografia e di Geofisica Sperimentale (OGS), the seller said on Thursday.

No sale price has been disclosed but GC Rieber said it expects a positive cash effect of around NOK 140m ($16.4m)