I.M. Skaugen ASA, Oslo (IMS) has sold their two chemical tankers, Princess of Penang 9.033 dwt, built in 1979 and Princess of Rotterdam 8.236 dwt, built in 1976.
Delivery has taken place March 4th 2002.
The profit on the sale of about USD 750.000 will be booked in first quarter 2002.
Oslo, 4 March 2002
I.M. Skaugen ASA
Its Board of Directors.