Nordic Business Report-November 15, 2006-Norwegian shipping company Green Reefers ASA purchases 20 second-hand reefer vessels (C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com Norwegian reefer shipping company Green Reefers ASA said on Wednesday (15 November) that it has signed a letter of intent to acquire 20 second-hand reefer vessels for a total of USD175-180m in cash and shares. The vessels are sold by companies affiliated with Seatrade (12 vessels), Caiano AS (7 vessels) and Norchem ApS and Rederiparter AS (1 vessel). In addition Green Reefers has signed long-term bareboat charter contracts for two vessels controlled by Caiano and Norchem. "The acquisition of this substantial fleet of high-quality reefer tonnage is a very important step forward for Green Reefers ASA, and will establish us firmly as one of the leading owners and operators of mid-sized reefer tonnage," commented Erik Thulin, Managing Director of Green Reefers. "This will, together with our portfolio of terminals, give us a solid foundation to continue to build our logistical network in the Atlantic Ocean and enabling us to continue to offer a superior service to our clients," Thulin said. The transaction increases Green Reefers fleet to a total of 47 vessels, of which 41 are owned by the company. Green Reefers is headquartered in Bergen in Norway. The company is listed on the Oslo Stock Exchange under the ticker GRR. One British pound (GBP) is worth approximately 1.91 US dollars (USD). ((Comments on this story may be sent to [email protected]))