On November 18 this year on the day of the 90th anniversary of the Republic of Latvia, JSC „Latvijas kuģniecība” (Latvian Shipping Company - LASCO) has taken delivery of the new tanker „Ainaži” at the Croatian shipyard “3. Maj” completing the first stage of its tanker fleet renewal programme. Within the programme the LASCO fleet has been enlarged by 14 new modern double-hull tankers resulting in considerable reduction of the average age of its fleet from 18.1 to 10.3 years. Tanker “Ainaži” name giving and launching ceremony, honoured by President of Latvia Valdis Zatlers with his presence was held on September 5 this year. The title of honour of becoming the vessel's Godmother has been assigned to Mrs. Iveta Erdmane, director of Ainaži Naval School Museum. The substantial tanker fleet renewal programme was commenced on 2004 by signing agreements for construction of ten tanker newbuildings with “3.Maj” Shipyard in Croatia and for four tanker newbuildings with “Hyundai Mipo Dockyard Co., Ltd.” in Korea. All the ordered vessels have been delivered over the years 2006 to 2008 and their technical parameters comply with the requirements of the European Union and international shipping safety conventions'. The double hull tankers built at “Hyundai Mipo Dockyard Co. Ltd.” and at “3.Maj” are focusing on oil product shipments - crude oil, diesel and gasoline - and in addition to the above mentioned cargo types the new LASCO tankers are employed also in vegoil and light chemical cargo shipments. Owing to the comprehensive construction of the vessels they are operating worldwide - in the Far East, America, Indian Ocean, Northwestern Europe, Mediterranean, Baltic and Black Sea regions. The tanker fleet renewal programme has been implemented in accordance with the LASCO Development Strategy for the period till year 2015. The main emphasis of the strategy is laid on the tanker fleet renewal providing for a younger and economically more efficient fleet, and paying attention to the improvement of environment protection standards by more efficient consumption of energy resources and minimising environment risks caused by shipping. At the end of 2007 in accordance with LASCO long term development plans there have been signed agreements with Korean shipbuilder “Hyundai Mipo Dockyard Co.Ltd.” for construction of four medium range tankers. Their delivery is planned for years 2011 and 2012. On November 18, 2008, the fleet in LASCO commercial management is comprised of 37 vessels: 34 tankers, two LPG carriers and one dry cargo vessel. LASCO ranks among the ten largest shipowners in the world in medium range tanker segment alongside with being the leader in the Northern European market. More detailed information: Marita Ozolina-Tumanovska Head of PR Department Phone: +371 67020120, 29287169 E-mail : marita.ozolina@lscgroup.lv