Ocean Tankers increases its fleet with the receipt of two more tankers

17/04/2008

Ocean Tankers Holdings Public Company Limited would like to inform the Cyprus Stock Exchange and the investing public that next week it will receive two more double-hull tankers, increasing its fleet from 11 to 13 tankers. Overall, with the delivery of the two tankers the Company has received 7 of the 8 tankers while the last one will be received with the completion of the Rights issue.

It is reminded that all eight tankers are time chartered with Lukoil/Litasco for the period of 7 plus 3 years with a daily net freight of $15,300. It is noted that the time charter with Lukoil/Litasco is active from the first day of their receipt.

We will release an additional announcement on the exact date of receipt of the two tankers next week.

Ocean Tankers Holdings Public Company Ltd