Statement regarding OFAC advisory letter.

“Three of our ships were named in the US Department of Treasury’s Office of Foreign Assets Control (“OFAC”) Advisory to the Maritime Petroleum Shipping Community issued March 25, 2019 (the “Advisory”) as ships that had engaged in ship-to-ship transfers of petroleum to or from Syria.

As described in the Advisory, the list of ships therein “is not a sanctions list or a comprehensive list of vessels in which blocked persons may have an interest,” and the inclusion of a particular vessel in the Advisory “does not constitute a determination by OFAC that the vessel has been identified as property in which a blocked person has an interest.” Inclusion of a vessel in the Advisory does not mean that the vessel or its owners or charterers violated any laws.

We are not aware of any allegation or charges by OFAC that we have violated any sanctions and we do not believe that we have, intentionally or unintentionally, violated any US sanctions involving Syria or any other country or person, and we are not aware of any allegation by OFAC or any other sanctions authority that we have violated sanctions. We operate so as to comply with, amongst others, US, EU and UN sanctions.”