Commercial management agreement for Gas vessels

Camillo Eitzen & CO ASA (CECO) affiliate Eitzen Gas A/S has signed an agreement with Münchmeyer Petersen Steamship GmbH & Co. KG (MPC) for the commercial management of MPC’s fleet of pressurized gas carriers.

The vessels will be operated along with Eitzen Gas A/S’ current fleet of
pressurized LPG carriers.

This agreement will facilitate MPC with a well founded marketing platform
within EGAS containing years of experience and presence in the gas
carrier markets, whereas EGAS through a larger pressurized fleet will
obtain an even wider presence in the market than today. The larger fleet
will seek to achieve optimized scheduling, maximum flexibility, reliability and
competitiveness all to ensure the best possible value added service
to our customers.

The vessels Coniston, Malvern and Longchamp will be managed by
EGAS as from today whereas the Auteuil, Deauville and Cheltenham
will follow once they end their current commitments.