Operations commenced in Chile

Sølvtrans got the final approvals from Chilean authorities on 21 April 2012, and immediately thereafter commenced operations under the time-charter contracts with the companies Granja Marina Tornagaleones S.A. and Invertec Pesquera Mar de Chiloe S.A., as announced on 16 February 2012. The contracts are valid for two and three years respectively and have a total value of USD 15.5 million. Operations were originally expected to commence during May.

Invertec is a leading aquaculture company, supplying salmon and scallop products world-wide. The company is listed in Chile. Tornagaleones is a well-established company producing smolt and doing salmon farming.

In connection with the re-flagging and approvals of the vessels in Chile, Frøyhav and Frøyfisk have been renamed to Ronia Pacific and Ronia Austral respectively. Both vessels have also been equipped with UV filters for treatment of in- and outgoing water flow.

The vessels Ronia Austral and Ronia Pacific both have a capacity of 660 m3 and were built in 2001 and 2003 respectively.