Clarkson Regulatory News (CKN)

12 Sep 2005 17:17

Clarkson PLC12 September 2005 CLARKSON PLC Acquisition of MV Pacific Dhow by Clarkson Logistics Division Clarkson PLC ('Clarksons') today announces that its Logistics Division has takendelivery of the MV Pacific Dhow. The MV Pacific Dhow is a 5,000 deadweighttonne chemicals and products tanker, built in 2005. As indicated in our 2005 Interim Report issued on 31 August 2005, Clarksons hasidentified a new long term project to transport jet fuel to Hong KongInternational Airport which requires a modern specialised tanker. The MVPacific Dhow meets the essential specification for this project and willcommence operations under a long term charter in October 2005. The MV Pacific Dhow has cost US$14.1 million. Clarksons has financed thisacquisition by US$9.2 million of bank borrowing with the balance of US$4.9million coming from existing cash resources. This investment demonstrates Clarksons continuing commitment to find innovativemarine transport solutions to industry and commerce and should, as with anylonger term transaction, enhance the sustainability of future earnings. For further information:Richard Fulford-Smith, Clarkson PLCTelephone: +44 774 704 3139Tim Huxley, Clarkson LogisticsTelephone: + 852 2866 3068 Notes to editors Background to Clarkson PLC Clarkson PLC (which is listed on the London Stock Exchange) is acknowledged asthe world's leading shipping services group. Through its unrivalled andextensive global network of offices it is able to give its clients unique accessto a wide range of shipping services. Clarksons covers shipbroking, research,publications, derivatives and logistics. Clarksons' strategy is to expand anddevelop the group around these key activities. For further information on Clarkson PLC, please visit the company's website athttp://www.clarksons.com/ This information is provided by RNS The company news service from the London Stock Exchange