Pool agreement signed: Nova Tankers is the name of the new market leading VLCC Pool, 11th Jan 2012
News Release
MOL (Europe) B.V. (European Head Office)
January 16, 2012
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<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN><EM>The pool agreement
governing the formation of a market leading VLCC pool has now been signed by the
four partners. Morten Pilnov, Maersk Tankers, will be the Managing Director for
Nova Tankers Pool</EM></SPAN><SPAN style="FONT-FAMILY: Arial; FONT-SIZE: 11pt"
lang=EN-US><EM>. In this connection, the pool management company, Nova Tankers
A/S, has been incorporated with Kazunori Nakai as Chairman. </EM></P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US></SPAN> </P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>The pool agreement
governing the formation of a market leading VLCC pool 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. </SPAN></P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US></SPAN> </P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>Morten Pilnov is
presently Head of Gas for Maersk Tankers, covering both Handy gas and VLGC. He
brings with him extensive experience of 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, including eight with Maersk Tankers.</SPAN></P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US></SPAN> </P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>Kazunori Nakai is the
Executive Officer of Mitsui O.S.K. Lines. </SPAN><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>Ltd. </SPAN><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>Mr. Nakai will take up
the position as chairman of the pool </SPAN><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>management company
</SPAN><SPAN style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>in addition
to his normal responsibilities.</P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><B><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US></SPAN></B> </P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><B><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>About Nova
Tankers:</SPAN></B></P>
<P style="TEXT-INDENT: 0cm; MARGIN: 0cm 0cm 0pt" class=Normal-Bullet><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt">The VLCC Pool will operate a
combined fleet of around 50 quality VLCCs by </SPAN><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt">the end of 2012 </SPAN><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt">with an average age of only 3 years.
The flexibility of a large, young and reliable fleet ensures that the VLCC Pool
can, at all times, offer relevant vessels of the highest standard to cater for
our customers’ need for safe and environmentally friendly marine
transportation.<SPAN> </SPAN></SPAN><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt"></SPAN></P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US></SPAN> </P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>The pool will become
operational in early February and the first pool board meeting will be held in
January 2012. Details for management structure and staff in charge of the
pool will be announced later.</SPAN></P></SPAN></SPAN></DIV></BODY></HTML>
<HTML><HEAD><TITLE></TITLE>
<META content="text/html; charset=unicode" http-equiv=Content-Type>
<META name=GENERATOR content="MSHTML 8.00.6001.18904"></HEAD>
<BODY>
<DIV>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN><EM>The pool agreement
governing the formation of a market leading VLCC pool has now been signed by the
four partners. Morten Pilnov, Maersk Tankers, will be the Managing Director for
Nova Tankers Pool</EM></SPAN><SPAN style="FONT-FAMILY: Arial; FONT-SIZE: 11pt"
lang=EN-US><EM>. In this connection, the pool management company, Nova Tankers
A/S, has been incorporated with Kazunori Nakai as Chairman. </EM></P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US></SPAN> </P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>The pool agreement
governing the formation of a market leading VLCC pool 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. </SPAN></P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US></SPAN> </P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>Morten Pilnov is
presently Head of Gas for Maersk Tankers, covering both Handy gas and VLGC. He
brings with him extensive experience of 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, including eight with Maersk Tankers.</SPAN></P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US></SPAN> </P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>Kazunori Nakai is the
Executive Officer of Mitsui O.S.K. Lines. </SPAN><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>Ltd. </SPAN><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>Mr. Nakai will take up
the position as chairman of the pool </SPAN><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>management company
</SPAN><SPAN style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>in addition
to his normal responsibilities.</P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><B><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US></SPAN></B> </P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><B><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>About Nova
Tankers:</SPAN></B></P>
<P style="TEXT-INDENT: 0cm; MARGIN: 0cm 0cm 0pt" class=Normal-Bullet><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt">The VLCC Pool will operate a
combined fleet of around 50 quality VLCCs by </SPAN><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt">the end of 2012 </SPAN><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt">with an average age of only 3 years.
The flexibility of a large, young and reliable fleet ensures that the VLCC Pool
can, at all times, offer relevant vessels of the highest standard to cater for
our customers’ need for safe and environmentally friendly marine
transportation.<SPAN> </SPAN></SPAN><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt"></SPAN></P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US></SPAN> </P>
<P style="MARGIN: 0cm 0cm 0pt" class=MsoNormal><SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 11pt" lang=EN-US>The pool will become
operational in early February and the first pool board meeting will be held in
January 2012. Details for management structure and staff in charge of the
pool will be announced later.</SPAN></P></SPAN></SPAN></DIV></BODY></HTML>