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2015-09-07

Solvang : New building orders and timecharter contracts

Solvang ASA and partners have signed a contract with Hyundai Heavy Industries
in Korea, for the construction of two 78.700 cbm LPG carriers. The vessels
will be Panamax VLGC vessels, with the feature of being able to transit both
new and old Panama canal. Solvang currently has 50% of the existing global
Panamax VLGC fleet. The new vessels are scheduled for delivery in Q2 and Q3
2017. Solvang will be managing owner and the vessels will be placed into one
of the existing shipowning companies where Solvang has 30% ownership. Both
vessels will upon delivery from yard enter 10 year timecharter contracts to
an Oilmajor.

Stavanger 7th of September 2015
Solvang ASA

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Solvang via Globenewswire

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