Announcement No. 4, 2014

Apr 30 2014

Sale of counterparty claim

J. Lauritzen (JL) has sold its claim related to the default by STX Pan Ocean involving untimely redelivery of two long-term time-chartered capesize bulk carriers in early 2013. The transaction will have a net effect of approximately USD 30m.

Our expectations for the 2014 result will be included in our interim report for Q1 2014 scheduled to be disclosed on 15 May 2014.

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