Norwegian owner orders more supramax bulkers

In addition to the six newbuildings announced in the press release dated 2 May 2007, the Norwegian ship owner Camillo Eitzen & Co ASA signed agreements for long term time charter with purchase option for additional four 58-60,000 dwt Supramax bulk carrier newbuildings. The vessels will be delivered from Japanese shipyards during 2011-2012. Long term coverage of about 30 years total duration has been secured for these four vessels.

Including the above mentioned contracts, Camillo Eitzen & Co ASA has 13 newbuildings including owned as well as tonnage controlled vis-?-vis long term charter with purchase options, for delivery during the period 2008 – 2012.

On 14 June, Camillo Eitzen took delivery of the newbuilding “SIBULK INITIATOR”, a 56,000 dwt Supramax bulker from Mitsui Tamano Shipyard on long term time charter with purchase option from Japanese owners.