HUNTER GROUP ASA – HUNTER TANKERS AS ANNOUNCES ACQUISITION VESSEL, EARLIER DELIVERIES AND AN EXTENSION OF OPTIONS

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Oslo, 2. November 2018

Hunter Group ASA (the “Company”) is pleased to announce that its wholly owned subsidiary Hunter Tankers AS has entered into an agreement to purchase one (1) additional scrubber fitted 300,000 dwt eco design VLCC from Daewoo Shipbuilding & Marine Engineering Co., Ltd., Hull No. 5470. The vessel will be outfitted with a SOx scrubber from Wärtsilä.  Delivery is scheduled for July 2020 and payment terms are: Ten percent (10%) upon issuance of Refund Guarantee, ten percent (10%) in October 2019, ten percent (10%) upon Keel Laying, ten percent (10%) upon Launching and sixty percent (60%) upon delivery of the vessel.

In addition, Hunter Tankers is pleased to announce an advancement of the delivery of hull no. 5465, 5466 and 5467 by a total of four months.

Delivery times are now scheduled as follows:

5465 shall be advanced to middle of March 2020 (from May 2020).

5466 shall be advanced to end of May 2020 (from June 2020).

5467 shall be advanced to middle of July 2020 (from August 2020).

Finally, Hunter Tankers AS has received a further extension of declaration of the existing options until January 15th, 2019. This option is for up to three (3) vessels with delivery in 1H/2021.

“We are very pleased to have reached an agreement with DSME for the acquisition of one additional vessel at what we consider to be a very attractive price and delivery time.  With this acquisition we have eight sister vessels under construction at DSME, all outfitted with scrubbers from market leading producer Wärtsilä.  We also greatly appreciate DSME in accepting our request for earlier deliveries for vessel nos. 5465/66/67.  This will enable us to have a larger fleet of world class quality tonnage operational earlier, in what we believe will be a strong tanker market.  Furthermore, we are very pleased to further build on our strong and close relationship with DSME, a quality builder of VLCCs.”, said Erik Frydendal, CEO of Hunter Group. 

“We are very pleased to have further strengthened our partnership with Hunter Group through this additional newbuilding deal after seven VLCC newbuilding orders already having been placed. We appreciate Hunter Group and Mr. Fredly’s trust in DSME and will reciprocate this trust with the best quality, advanced technology and on time delivery of all the vessels in the series,” said Mr. SL Jung, CEO of DSME.

Contacts:

Erik A.S. Frydendal, CEO

Phone: +47 957 72 947

E-mail:ef@huntergroup.no

About Us

Hunter Group ASA is a publicly traded investment company listed on the Oslo Axess. Hunter Group currently has 7 high spec VLCC's with scrubbers under construction at DSME in Korea.

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