We are happy to announce a couple of good news from our joint venture JTC AS.

Nova Algoma Cement Carriers Limited, has acquired a 25% ownership interest in JT Cement AS from KGJ Cement Holdings and will join the joint venture JTC AS, which owns a fleet of seven smaller specialized pneumatic cement carriers. Erik Thun will keep its part of and continue to own 50% of the company.

We welcome NACC onboard and are looking forward to work together to provide high quality services for our customers and add additional strength and flexibility.

The daily operations of the JT Cement fleet will not change as a result of the NACC investment, with the vessels continuing to be commercially managed by KGJ’s office in Bergen, Norway and technically managed by MF Shipping Group in the Netherlands.

Erik Thun is also very pleased to announce that a sister vessel of M/V Greenland has been ordered from Ferus Smit Shipyard. Delivery will be July 2019. The project will be handled by MF Shipping Group with support from KGJS project department and KGJC cargo handling team. The vessel will be an improved version of Greenland but with a somewhat larger cargo carrying capacity at 8.000 dwt. In addition, we will increase the LNG tank capacity to 200 m3, improving the steaming time on LNG.