Eitzen Chemical orders 2+2 vessels, swap shares in 3 and declares one option

Eitzen Chemical ASA (The Company) announced today that it has signed an agreement with Jinse Shipbuilding Co., Ltd. in Korea for two coated 13,000 dwt chemical carriers for USD 23.6 mill. per vessel. The vessels will be delivered in 2008. Furthermore, the Company has an option for two additional units.