Latvian Shipping Company has signed a series of Settlement Agreements with individuals including Former Management Board and Supervisory Council members. The contents of these agreements are confidential and all parties have undertaken to keep these agreements confidential. Latvian shipping company believes this is another positive steep forward in the restructuring process which is ongoing. 

JSC “Latvian Shipping Company” (NASDAQ OMX RIGA: LSC1R) is among the biggest vessel owners in the segment of medium and handy size tankers and takes leading positions in terms of the transported amount of petroleum products among similar companies in Northern Europe. The company owns 16 modern vessels employing more than 500 professional and high-skilled seamen from Latvia. The average age of the LK fleet is 7 years. All of the vessels have received ISM (International Safety Management) certificates.