JV Agreement with DVB Bank

DPML and Shipping Intermodal Investment Management (SIIM) – a unit of DVB Bank, announced a new joint venture that will initially control a fleet of nine liquefied petroleum gas carriers. Pantheon LPG Carriers starts with an owned fleet of nine vessels, ranging from 3,000 cubic metres to 7,200 cubic metres. DPML will provide the shipping management for the new company. The new additions include the CORAL MAYA (3000cbm/2004blt/semi-ref) and CORAL ELECTRA(3000cbm/2003blt/ semi-ref).