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| Exchange Received Time 02/07/2018 15:46:26 Exchange Disseminated Time 02/07/2018 15:46:29 Time Taken 00:00:03 | Dear Sir/Madam,
With reference to the above and pursuant to Regulation 30 of the SEBI (LODR) Regulations 2015, we wish to inform you that Sea King LLC and Sea Link LLC, the step down subsidiaries of Chowgule Steamships Limited, have sold two Handysize Bulk Carriers viz. Maratha Paramount and Maratha Prudence and simultaneously taken the same vessels back on Bareboat charter. The Bareboat Charter is for a period of five years with 'Put' and 'Call' options. Consequent to the sale, the existing debt of DVB Bank has been fully repaid.
We attach a letter in this regard for your information please.
For Chowgule Steamships Limited
Suhas Joshi
company Secretary
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