Tschudi Shipping Company AS - Strandveien 50 - NO-1366 Lysaker, Norway - Telephone +47 67 11 98 80

 

Tschudi Shipping Company AS Press Release

Oslo, November 24th 2003:

TO OUR BUSINESS FRIENDS

We are very pleased to advise that effective from November 25th, 2003 Tschudi Shipping Company AS will continue its operation from a new separate platform.

Tschudi Shipping Company – which is the continuation of one half of the previous Tschudi & Eitzen Group– controls 100% of Estonian Shipping Company, Estonia (ESCO) and International Transport Contractors, Holland (ITC). In addition, the Company holds a 50% ownership of TESMA (Tschudi & Eitzen Ship Management Alliance) and has major interests in the OBO carriers MT SIBOHELLE and MT SIBOTESSA in addition to minority interests in the chemical tankers MT Frea and MT Maribel.

The Management Team of Tschudi Shipping Company AS, in Oslo will consist of:

Mr Felix Tschudi, Chairman of the Board
Mr Jon Edvard Sundnes, Managing Director
Mr Arne Larsen, Technical Director
Mrs Celia Lindqvist, Corporate Secretary.

From December 1 2003, the Management team of Tschudi Shipping Company AS in Oslo will be located in new offices as follows:

Postal address:
P.O.Box 86
1325 Lysaker
Norway

Visiting address:
Strandveien 50
1366 Lysaker
Norway

Switchboard: + 47 67 11 98 80
Fax: + 47 67 11 98 81
E-mail address:
Web page: www.tschudishipping.com   

Søren Andersen will share his time between ESCO’s office in Tallinn and the Tschudi Shipping Company’s office in Denmark. This office is located in the previous T&E office in Gentofte.

Visiting address:
Smakkedalen 8
2820 Gentofte.

Switchboard: + 45 7733 8600
Fax: + 45 7733 8669

The contact addresses and phone numbers for the Estonian Shipping Co. Ltd
(ESCO) and International Transport Contractors (ITC) will remain unchanged:

Estonian Shipping Company Ltd.
4 Sadama Street
15096 Tallinn
Estonia

Switchboard: + 372 6409 500
Fax: + 372 6409 595
E-mail address:
Web page: www.eml.ee

International Transport Contractors BV
P.O. Box 19
2100 AA Heemstede
Holland

Switchboard: + 31 23548 5200
Fax: + 31 23548 5252
E-mail address:
Web page: www.itctowage.com

We look forward to continuing and hopefully strengthening our relationship with you in the future.

Yours truly,
TSCHUDI SHIPPING COMPANY AS