26 MAY 2016

Subsequent to The National Shipping Company of Saudi Arabia (Bahri) announcement on 25 February 2016 that The National Chemical Carriers (subsidiary 80% owned by Bahri) signed a Memorandum of Agreement (MoA) to purchase five (5) second hand MRs ships; Bahri announce the fifth MR ship STI Powai was delivered and ownership was transferred to NCC on Thursday, 26 May 2016 and the ship name was changed to (NCC Bader). The financial impact of this ship is expected during the second quarter of 2016