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Eletson Corp Delivers its First LPG Carrier

Maritime Activity Reports, Inc.

February 18, 2009

The Eletson Corporation enters a new market sector with the delivery today of their first ever liquefied petroleum gas (LPG) carrier. Built at Hyundai Mipo Dockyards (HMD) in Korea, the ship marks a milestone for the well known and respected Greek operator, long recognized by the shipping industry for the ownership and management of tankers for more than four decades.

The 22,010 deadweight tonne Anafi, constructed to Lloyd’s Register class, is the first of a series of four LPG ships being built for Eletson by HMD. Built to meet high specifications and exceeding latest requirements for navigational safety and environmental requirements, these ships demonstrate Eletson’s commitment to the demanding gas transportation market.

Commenting on this new ship and new venture, Nikos Makris, Eletson’s Chief Operating Officer said “As all our vessels, the Anafi is named after a Greek island and will fly the Greek flag. Anafi demonstrates our commitment to quality as well as to the Company’s pride in our Greek maritime heritage.”

Lloyd’s Register has worked with Eletson and HMD at all stages of construction, using proven design tools covered by Lloyd’s Register’s ShipRight procedures for structural detail analysis and fatigue design assessment. During construction the ship was surveyed and monitored to meet the requirements of Lloyd’s Register’s ShipRight construction monitoring procedures. This demanding procedure ensures the vessel is constructed to tolerances intended to enhance fatigue performance during her operational life.

In addition, by selecting a higher standard of bridge layout and visibility - to the requirements of Lloyd’s Register’s NAV1 Class Notation – the LPGC Anafi will be well prepared to navigate the increasingly congested waters of the world’s major trade lines.

Luis M Benito, Marine Manager and Country Manager for Korea explained how he felt on delivery of the new ship. He said “We are very proud to work with Eletson on this project. To be able to combine our LPG experience with Eletson’s continual and professional commitment to quality has been a rewarding experience.

“This is a significant project for us and adds to the valuable long working relationship between Eletson and Lloyd’s Register and with HMD. We wish Eletson all the best in the exciting new future of LPG shipping and thank all involved in the project for their support. At Lloyd’s Register we are now looking forward to helping look after Anafi during her operational life.”

The Anafi has a length of 541 ft, a breadth of 92 ft and a moulded depth of 58.4 ft, with engine power of 9,480 kW.

LNG

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