Announcement No. 5, 2013

Jun 27 2013

Bulk carrier transaction

Lauritzen Bulkers has agreed to sell a handysize bulk carrier newbuilding scheduled for delivery in the third quarter of 2013 and to take the vessel on long-term time-charter. The agreement includes options for extension of the charter period as well as purchase option. The sale and lease-back will cause book loss of approximately USD (10)m, but improve liquidity by approximately USD 9m.

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