Broström in new partnership - major expansion of European fleet

Broström in new partnership - major expansion of European fleet

Broström has entered into a long-term partnership agreement with German shipowner Reederei Claus-Peter Offen whereby Broström's European commercial fleet in the 37,000 dwt size will double.

Broström is presently operating eight vessels in the size of 37,000 dwt in the European market for distribution of refined petroleum oil products. In line with Broström's strategic objective to grow and consolidate the market, a long-term commercial management agreement has been established with Reederei Claus-Peter Offen whereby eight additional newbuildings will join Broström's commercial fleet. The new vessels will be delivered during the second part of 2008 as they are being delivered from the Hyundai Mipo yard in Korea. The total fleet of 16 vessels hereby achieved in this particular size segment will further enhance Broström's attractiveness as a logistics service provider for the major oil companies.

“We are very satisfied to have reached this agreement enabling growth in a market segment that is strategic for Broström”, says Lennart Simonsson, CEO of Broström.

“When looking at the long-term commercial strategy for our investments in tankers, the Broström way of doing business has been found very attractive to us. To have reached a long-term partnership agreement with Broström will not only be a good solution for our existing newbuildings, it will also be a good base for further expansion”, says Claus-Peter Offen, President and Owner of Reederei Claus-Peter Offen.
Broström operates today a fleet of about 60 vessels, from 8,000 to 37,000 dwt, in the European markets and 20 vessels, from 20,000 to 50,000 dwt, in the markets outside of Europe.
Göteborg, 21 February 2007

BROSTRÖM AB (publ)

For further information: Lennart Simonsson, CEO Broström, Tel +46 31 61 61 00	
Claus-Peter Offen, President and Owner Reederei Claus-Peter Offen, Tel +49 40 34 843-0

For more information about Reederi Claus-Peter Offen, see www.offenship.de


Broström is one of the leading logistics companies for the   oil and chemical industry, focusing on industrial product   and chemical tanker shipping and marine services. Broström is based all over the world and operates within two areas: Shipping and Marine & Logistics Services. Broström's head office is located in Göteborg, Sweden.