First Olsen Ltd., which is owned 50/50 by Bonheur ASA and Ganger Rolf ASA, is advising of a Letter of Intent for newbuilding contracts for two suezmax tankers to be built at Bohai Shipbuilding Heavy industries C. Ltd. in China. If concluded, delivery will be due in December 2009 and April 2010, respectively and the price is agreed at USD 73.7 mill. per vessel.
Clarification on outstanding items is expected within the month of September.
For further information please contact Per-Oscar Lund, ph. +47 2234 1181/9078 0254.
Oslo 11 September 2006
