Sale of 4 Newbuildings

Monday, April 21, 2008

Eitzen Chemical ASA has reached an agreement to sell  four newbuildings that it has on order in . The vessels are coated 13,000 dwt chemical carriers. The vessels will be delivered to the buyer upon delivery from the shipyard, which is expected to take place during the remainder of 2008, with the first vessel expected to be delivered in the second quarter. The total price is approximately USD 112 mill. and the company will book a total gain of approximately USD 12.5 mill. from the sale.
Eitzen Chemical ASA's fleet will after this sale consist of 101 vessels, whereof 62 vessels  are owned or financially controlled, 22 newbuildings and 17 pool vessels.

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