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Nordic Shipholding's Establishses JV

Nordic Shipholding A/S has been informed that Pacific Alliance Group (“PAG”), which controls Nordic Shipholding’s majority shareholder, Nordic Maritime S.á r.l., has entered into an agreement with BW Group regarding the establishment of a joint venture to target a consolidation in the product tanker market. Nordic Shipholding is not a party to the agreement. It is too early to say what the consequences of this agreement will be, if any, for Nordic Shipholding.