Bocimar Sells Mineral Libin & Mineral Azalea

Monday, June 22, 2009

CMB confirms that Bocimar International has sold the Capesize unit Mineral Libin (2006 – 173,999 dwt). The net sale price amounts to $53m. The delivery of the vessel is scheduled between August 2009 and April 2010. The capital loss of approximately $2m that will be realized on this sale will be taken up in the second quarter results 2009.

Furthermore Bocimar has sold the Capesize vessel Mineral Azalea (1999 – 171,199 dwt). Based on a net sale price of $45.1m this sale will generate a capital gain of more than $21m. The delivery is scheduled to take place in the course of the third quarter 2009. Both sales have a total positive impact on the Group’s cash position of approximately $42m.

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