On 15 June, 2017 JSC “Latvijas kuģnieciba” (“LSC”) received a notification from the Vitol Holding B.V. (“Vitol Group”) regarding the transfer of 99,880,361 LSC shares from a wholly owned indirect Vitol Group subsidiary JSC “Ventspils nafta” to Vitol Netherlands B.V.

About JSC “Latvian Shipping Company”

JSC “Latvian Shipping Company” (Nasdaq Riga: LSC1R) is vessel owner in the segment of medium and handy size tankers. The company owns 16 modern vessels employing more than 1300 professional and high-skilled seamen from Latvia. Besides, LSC subsidiary “LSC Shipmanagement” Ltd is technically serving 8 more vessels, thus managing a fleet of 24 vessels. The average age of the LSC fleet is 9 years. All of the vessels have received ISM (International Safety Management) certificates.

         Artis Ozolins, Communications Consultant
         JSC “Latvian Shipping Company”
         Telephone: +371-26179051
         E-mail: AOzolins@golin.com