Stopped at the Line of Scrimmage

We understand that RS Platou Finance successfully sold what we believe to be the first K/S deal of the year, Bergshav Tank DIS. The transaction involved the acquisition of two 47,000 DWT built in 2007 at Hyundai Shipbuilding in what Platou portrayed as an asset play opportunity. The price per vessel was $26.5 million, which is historically the lowest price reported for this vessel type since the double hull requirement began in 1993. Bergshav Management AS was to act as commercial manager and participate in the project with 15% of the equity.

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