Latvian Shipping Company is pleased to announce a partial settlement in respect of the Antonio Gramsi Corporation court case in the High Court in London.  The value of the structured settlement is circa Euro 14 million.  The terms of the settlement are subject to a confidentiality agreement.

About JSC “Latvijas kuģniecība” (Latvian Shipping Company)

In the medium-sized and handy tankers categories JSC „Latvijas kuģniecība” (NASDAQ OMX RIGA: LSC1R)  is among the leading ship owners in the world, and in terms of transport volumes of petroleum products  it is also in a leading position among similar companies in Northern Europe. It owns 17 modern ships, employing more than 700 professional and highly qualified seamen from Latvia. The average age of the fleet is 6 years. All ships have received ISM (International Safety Management) certificates.