PURCHASE OF VESSEL

Wilson has entered into an agreement with Arno
Shipping Ltd. regarding the purchase of the
container vessel MV Doris.

MV Doris is built in 1997 and is a sister vessel
of MV ECL Challenger (1995) that Wilson acquired
in 2006. The vessels have each a carrying capacity
of 384 TEU.

The purchase price has been agreed to EUR
7.275.000. Wilson will initially take the MV Doris
on a short term time charter before the
acquisition is effectuated. Closing of the
purchase transaction is expected to be
October/November 2008. The vessel will be renamed
MV `ECL Commander` at delivery.

MV Doris will be integrated in Wilson`s container
operation; Euro Container Line (`ECL`) and will
expand carrying capacity in the business segment.
Including MV Doris, ECL will operate a fleet of 4
vessels in a feeder service between the Continent
and ports in West- and Mid-Norway.

After this transaction, Wilson will operate a
fleet of 110 vessels, whereof 78 are owned.

Wilson is in the process of taking over Eimskip`s
50 % share of ECL, ref stock exchange notice of
3rd September. Formal takeover of the shares is
expected to take place in October.

Om oss

The Company’s business concept is to offer Norwegian and European industry competitive, secure, reliable, flexible and long-term maritime transport services. With large transport volumes and long-term transport portfolios, Wilson can optimise sailing patterns and achieve efficient operations and thus secure long-term stable earnings. The Company’s strategy is to focus on growth and expansion in the European dry cargo segment by increasing the volume of long-term freight contracts, purchasing tonnage, acquiring companies or entering into alliances with other players. The Company’s financial strategy is to keep focus on and control risk, as well as hedge against major fluctuations in general market conditions for Wilson by aiming for: - A high contractual share of the total freigt volume- A reasonable balance between contract portfoilio and freight capacity- A balanced currency risk- Reduced exposure to fluctuations in bunker pricesAs a part of Wilson’s company culture, core values and ethical guidelines have been prepared and implemented. Wilson’s core values are to be: reliable, service minded, professional, long term, solid, competitive and innovative.

Abonner