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Bergesen Orders Gas Carriers

Maritime Activity Reports, Inc.

April 25, 2003

Bergesen has entered into an agreement with the Korean yard Daewoo Shipbuilding and Marine Engineering Company (DSME) for construction of two fully refrigerated LPG/Ammonia carriers of 38,000 cbm. The vessels will be delivered in the fourth quarter of 2005 and fourth quarter of 2006. The contract price is $41.4 million per vessel. The contract will contribute to a renewal of Bergesen's MGC-fleet. Two old vessels were sold for scrap in 2002/2003.

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