Key events;

• Earnings from shipping activities at a profit of NOK 1.4 million.
• Baltic LPG index at low levels throughout third quarter 2017.
• Delivery of one Panamax VLGC from Hyundai Heavy Industries - "Clipper Vanguard".
• Total average technical off-hire per vessel of only 0.5 days by end of third quarter 2017.
• Continued strong HSE results with only 5 minor LTI in the last 9 years, and a LTIF of 0.24.

Complete report for 3rd quarter 2017 is enclosed.

Stavanger 7th of November 2017
Solvang ASA