Announcement No. 2, 2015

May 11 2015

Interim financial report – first quarter 2015

Record low dry cargo markets
“The dry cargo markets in Q1 turned out to be weakest for the last 30 years and substantially weaker than expected at the beginning of the year. Less demand growth than projected at the end of 2014 amplifying the already known oversupply of carrying capacity have lead to a downward revision of our earnings forecast for the full year. We see significant uncertainties associated with the dry-market at least for the remainder of 2015. Our gas carriers performed as expected”, says Jan Kastrup-Nielsen, President and CEO.

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