Medium term employment secured for MT Dalmacija

Tankerska Next Generation Inc. has secured employment for a minimum of three years for its new build MT Dalmacija, which is to be the fifth operational vessel in the fleet, upon expected delivery in the last quarter of 2015. MT Dalmacija will be chartered out to a prominent charterer at approximately US$ 17,750 per day for three years straight, starting after delivery. Charterers’ option allows for an additional one year extension of the deal at approximately US$ 19,750 per day.

The agreed employment rate for this newbuilding, from SPP Shipbuilding, one of the leading South Korean dockyards outperforms model presumptions presented earlier this year in the rundown to the company’s IPO in February, while repeating May’s fixture for MT Zoilo.MT Dalmacija, which is expected to be delivered during the last quarter 2015, Tankerska Next Generation Inc. will expand its operating fleet with one more vessel designed to optimize performance levels and increase efficiency of overall operations.

The company’s strategic concept remains in the focus of the management’s efforts to secure a strong asset base and stable cash flow to ultimately support creating additional value for its shareholders, while lowering the risk of the business by maintaining the policy of fixing medium to long term time charter periods."With employment of MT Dalmacija, Tankerska Next Generation Inc. repeated the level agreed for MT Zoilo and further strengthened its market position.

This repeated success surpasses the level of fixtures achieved in April and the planned level during the initial public offering. I believe that this fixture will further contribute to achieving the objectives of Tankerska Next Generation Inc. The delivery of MT Dalmacija average age of our fleet will go under 2 years. This will surely pave the way for business success of our new company.", said John Karavanić, CEO of Tankerska Next Generation.