Renegotiation of agreements with The Scottish Salmon Company

The new terms agreed confirm the positive rate development Sølvtrans has experienced in recent years. The charter agreement for Roy Kristian concerns twotime periods, in the autumn 2010 and in the spring 2011, while the charter agreement for

Ronja Viking concerns a time period of two years, from November 2010 to November 2012. Collectively, the agreements have a contract value slightly exceeding NOK 50 million over a two year period. 

 "The new agreements improve the return on the vessels and the company's earnings, while substantiating our strategy by contributing to confirm our strong position in the Scottish market. During the last six months we have renegotiated all our charter agreements in Scotland", says CEO in Sølvtrans, Ole-Peter Brandal.

Sølvtrans has a market share in the Scottish wellboat market in the range of 70 to 80 per cent. Including these last agreements, Sølvtrans now has more than 80 per cent of its capacity covered by long term agreements.

Roy Kristian is a conventional wellboat built in 2001, and has a capacity of 660m3. Ronja Viking was built in 2006, has modern closed wellboat technology and a capacity of 1,040m3.

Lighthouse Caledonia is amongst Scotland's leading fish farming companies and providers of Atlantic salmon. The company is owned by The Scottish Salmon Company Ltd., which is listed on Oslo Børs.