Eitzen orders six LPG carriers from Japanese shipyard
And disposes of former Gibson tanker



Camillo Eitzen & Co ASA announced today that it has reached an agreement with Sasaki Shipbuilding Co., Ltd in Japan, for six 2,500 cbm semi/pressurized LPG carriers for USD 14.2 million each. The vessels will be delivered in 2011.

The Company also announced that it has sold the 1982 built semi/ref LPG carrier SIGAS EILDON.

Axel Eitzen, Chief Executive Officer said:

"These newbuildings together with the sale of the older vessels forms an integral part of our fleet renewal program. We are very satisfied with the vessels which are specially designed to comply with all the restrictions and limitations for this segment, as well as designed with particular attention to environmental issues and hold a 'Green Passport'".

Sasaki Shipbuilding is located on the island of Kinoe and specialises in the construction of gas, oil and chemical tankers in its shipyard which was developed in 1997.

The SIGAS EILDON was operated by what was formerly Gibson Tankers of Leith, taken over by EMS Ship Management.