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Sale of FARWAH and Purchase of MINERAL KYOTO

02-01-2008 07:24 PM CET | Logistics & Transport

Press release from: CMB

The charterer of the FPSO Farwah (2003) (owned 50/50 by Exmar and CMB) has given notice of the exercise of its purchase option. The transaction is expected to close in May 2008 and CMB will realise a capital gain of about USD 1 million and a cash surplus ofapproximately USD 16 million.

Recently Bocimar exercised its option to purchase the Mineral Kyoto (2004 – 183,204 dwt) currently on long-term charter from Imabari (Japan). The change of ownership is scheduled to take place in the course of the month of March. The acquisition price amounts to USD 36 million.

contact: Ludwig CRIEL
+32 3 – 247 59 10
www.cmb.be

CMB, Compagnie Maritime Belge, is a maritime group with its registered offices in Antwerp. The company was founded in 1895. Its shares are quoted on Euronext. The CMB share is included in the Next 150 index and is also part of the NextPrime index. The CMB Group's main activities are all directly or indirectly related to the shipping industry, i.e. transport of dry cargo and related financial activities.

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