ビンゴ agreement signed : Nova Tankers is the name of the new market leading VLCC ビンゴ

January 11, 2012

The ビンゴ agreement governing the formation of a market leading VLCC ビンゴ has now been signed by the four partners. Morten Pilnov, Maersk Tankers, will be the Managing Director for Nova Tankers ビンゴ. In this connection, the ビンゴ management company, Nova Tankers A/S, has been incorporated with Kazunori Nakai as Chairman.

The ビンゴ agreement governing the formation of a market leading VLCC ビンゴ has now been signed by the four partners MITSUI O.S.K. LINES, LTD. / PHOENIX TANKERS PTE. LTD., A.P. MØLLER - MÆRSK A/S (Maersk Tankers), SAMCO SHIPHOLDING PTE. LTD., and OCEAN TANKERS (PTE.) LTD., SINGAPORE.

Morten Pilnov is presently Head of Gas for Maersk Tankers, covering both Handy gas and VLGC. He brings with him extensive experience with pools from the gas segment and will take up the position immediately. Mr Pilnov has been with A.P. Moller- Maersk A/S for 12 years, hereof eight with Maersk Tankers.

Kazunori Nakai is the Executive Officer of Mitsui O.S.K. Lines. Ltd. Mr. Nakai will take up the position as chairman of the ビンゴ management company in addition to his normal responsibilities.

About Nova Tankers

The VLCC ビンゴ will operate a combined fleet of around 50 quality VLCCs by the end of 2012 with an average age of only 3 years. The flexibility of a large, young and reliable fleet ensures that the VLCC ビンゴ can, at all times, offer relevant vessels of the highest standard to cater for our customers' need for safe and environmentally friendly marine transportation.

As the ビンゴ will become operational in early February and the first ビンゴ board meeting will be held within January 2012, details for management structure and staffs in charge for the ビンゴ will be specifically announced later separately.