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Exmar and Hyandai Heavy Industries reach agreement

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Hydrocarbon Engineering,

Exmar LPG has reached an agreement with Hyundai Heavy Industries of South Korea to take over and novate an existing newbuilding contract for a 38 000 m3 Fully-Refrigerated LPG Carrier (Midsize) for delivery in 3Q18.

This announcement follows Exmar’s 1Q17 results, where the company cited cash flow from operations (EBITDA) as per proportionate consolidation method for 1Q17 as US$14.6 million (US$28.3 million including a US$5.0 million termination fee from Pacific Exploration and Production in the 1Q16, EBIT is US$3.4 million (US$17.1 million in 1Q16).

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