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Article: Camillo Eitzen & Co ASA completes sale of two bulk vessels.(Brief article)

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Nordic Business Report
Article date:
August 5, 2008
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NORDIC BUSINESS REPORT-5 August 2008-Camillo Eitzen & Co ASA completes sale of two bulk vessels(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Norwegian shipping company Camillo Eitzen & Co ASA (OSE: CECO) announced on Monday (4 August) that it has completed the previously announced sale of its bulk vessels Sibulk Innovation and Sibulk Quality.

The vessels were sold for a total of USD145.5m, which resulted in a gross profit of USD103m. Camillo Eitzen & Co's share of the profit, after provisions for contract commitments and profit split agreement, will amount to some USD49m and will be booked ...

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