Eitzen Chemical evaluates its options

Oslo-headquartered chemical tanker operator Eitzen Chemical ASA has commenced a process to evaluate its various options to ensure adequate, longer term financial strength and liquidity. The company, a leading carrier of petrochemical and related cargos with a fleet of 53 vessels, says it is taking the step in view of the continued slow rate of improvement in the chemical tanker market and anagreement with bank lenders stipulating the recommencement of fixed debt installments as from the fourth quarter of 2012,

The company has retained ABG Sundal Collier Norge ASA as financial advisor to assist it.

January 16, 2012