Odfjell Orders Ships

Odfjell signed an agreement with Daewoo Shipbuilding & Marine Engineering Co., Ltd (DSME) to build one fully IMO II 75,000 dwt chemical tanker with 31 coated tanks for delivery first half 2013 at a total price of about $65m.

On the same date our J/V partners National Chemical Carriers of Saudi Arabia (NCC) has ordered a sister vessel with expected delivery late 2013. The ships will be commercially operated by our J/V NCC Odfjell Chemical Tankers JLT (NOCT), based in . Both Odfjell and NCC have options for one more vessel each.