09 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 fourth MR ship STI Olivia was delivered and ownership was transferred to NCC on Monday, 9 May 2016 and the ship name was changed to (NCC Ghazal). The financial impact of this ship is expected during the second quarter of 2016.