Bank buys half

A division of ABN AMRO Bank has bought out Primorsk Shipping Corporation’s stake in an ice-breaking tug.

Maas Capital Offshore has acquired the owner’s 50\% holding in the Polar Pevek (built 2006).

The sale was announced by GC Rieber, which holds the balance of shares in the vessel that is on long-term contract to Exxon Neftegas at the Sakhalin I project. The deal runs until 2021.

Irene Waage Basili, chief executive of GC Rieber, said in a statement Prisco had provided “professional cooperation” on the project.

Attempts to reach Basili for further details on the change in partner were unsuccessful today.

source:www.tradewindsnews.com