ELETSON EXPANDS INTO LPG SECTOR
Piraeus, September 19, 2006 – Eletson Holdings Inc. (“Eletson”) today announced the signing of newbuilding contracts with Hyundai Mipo Dockyard Co., Ltd., for the construction of four, option two 35,000cbm, hi-spec, LPG/NH3 Carriers. The vessels are scheduled for delivery during 2009 and the first half of 2010. Commercial terms were not disclosed.
Eletson’s move into LPG marks its new growth strategy into a sector expected to play an increasingly important role in the global gas and energy supply picture. In embarking on this new venture, the Company will apply the same values and commitment that have made Eletson a market leader in product tankers. The LPG venture will build on the strengths of an experienced product tanker operation and help the Company maintain a leading status in maritime transportation of energy in the future.
Eletson owns and operates one of the world's largest fleets of medium and long range product tankers. The fleet presently consists of 25 double hull Greek-flag vessels with a combined capacity of over 1,630,000 dwt. The Company has on order six 52,000 dwt product tankers to be delivered in the second half of 2009 and the first quarter of 2010. |
