On the claim of SIA “VESTABALT” against AS “Latvijas kugnieciba”

SIA Vestabalt” (Vestabalt) has brought a claim against AS “Latvijas kugnieciba” (LSC) in the Riga City Ziemeli District Court asking to recognize the conclusion of the agency contract between both parties and recover from LSC the agency fee in amount of EUR 101 thousand for the benefit of Vestabalt. LSC does not recognize the claim and has submitted its explanations to the court.

About AS “Latvian Shipping Company”

AS “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 SIA “LSC Ship management” is technically serving 9 more vessels, thus managing a fleet of 25 vessels. The average age of the LSC fleet is 9 years. All of the vessels have received ISM (International Safety Management) certificates.

Additional information:

Elīna Dobulāne, Communications Consultant

JSC Latvian Shipping Company

Phone: +371-25959447

Email: Edobulane@golin.com