Stream Tankers AS delares options for two additional advanced eco-design chemical tankers

We are pleased to inform that Stream Tankers AS, has declared options for two additional 19,900 dwt. newbuildings with Fukuoka Shipbuilding Co. Ltd. and Shitanoe Shipbuilding Co. Ltd. in Japan. This increases the order to four firm vessels with the shipyards. Furthermore, Stream Tankers has options to increase the order to up to six vessels.

The newbuildings will be of the new Fukuoka/Shitanoe eco-design hulls and combined with modern efficient engines will give substantial fuel reductions. Delivery of the firm vessels will be in 2015 and 2016.

Stream Tankers AS currently owns two 19,900 dwt. chemical tankers built at Fukuoka and Shitanoe shipyards in Japan in 2008 and 2010. The vessels are currently out on time-charter to one of the major global chemical tanker operators. Stream Tankers is owned by Utkilen AS (60%), EGD Shipholding AS (35%) and BSCO AS (5%).

Utkilen AS is a fully integrated shipping company with headquarters in Bergen, Norway. Utkilen dates back to 1916 and owns and operates 22 chemical tankers ranging from around 5,000 to 20,000 dwt. in size. Utkilen is one of the major seaway transporting companies of chemicals and other bulk liquid cargoes in Northern Europe.

EGD Shipholding AS is owned by EGD Holding AS ( EGD Holding AS was founded in 1907 and is a Bergen-based investment company with main focus on Shipping and Real Estate. EGD Shipholding has ownership interests in more than 40 vessels.

BSCO AS is owned by Mr. Bjørn Sjaastad, Chairman of Stream Tankers AS and Utkilen AS.

Bergen, 23 January 2014

Stream Tankers AS

Contact person:

Magne Øvreås, CEO of Utkilen AS

Phone: +47 5530 7800

Mobile: +47 9137 2027