Montanari declares options

The Italian shipowner, Navigazione Montanari S.p.A., declared the option for the construction of two more 37,000 DWT product/chemical tankers for a total investment of ?81 million. The option was provided by a contract signed on the 20th January 2006 with South Korean shipyard Hyundai Mipo Dockyard Ltd which is already building two similar vessels for Montanari.

The two double hulled vessels will be equipped with the most advanced safety systems and high-quality devices to meet the environmental protection and pollution prevention standards. Delivery of the newbuildings is scheduled June and November 2008.