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Sale of Ships and Delivery of Newbuilding

As part of Odfjell's continued fleet renewal process, two older ships have been sold, whilst we earlier this month took delivery of the 33,707 fully stainless steel newbuilding M/T Bow Heron on long term time-charter.

As part of Odfjell's continued fleet renewal process, two older ships have been sold, whilst we earlier this month took delivery of the 33,707 fully stainless steel newbuilding M/T Bow Heron on long term time-charter.
 
Our 50% owned parcel tanker M/T Bow Condor (27,950 dwt/built 1978) has been sold for demolition. The Bow Condor was built in Szczecin, Poland and was the last vessel of the 13 ships in the socalled B76 series to operate in our service.
 
We have also entered into an agreement to sell M/T Bow Lancer (35,100 dwt/built 1980) and expected time of delivery to new owners is medio April.
 
The sales give a total gain of about USD 5 million for the Odfjell Group.

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