I.M. SKAUGEN AS

I.M. SKAUGEN AS

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Company Overview
I.M. Skaugen AS, with headquarters in Oslo, Norway, is a marine transportation service company engaged in the transportation of petrochemical gases and liquefied petroleum gas (LPG), ship-to-ship transfer of crude oil and LNG, as well as the design and construction of smaller and specialized high quality marine vessels. It is a fully integrated shipping company that designs, builds, owns, mans and manages their own ships. The foundation stone of I.M. Skaugen was laid in 1916, when Isak Martinius Skaugen, Captain of the four-masted barque ‘Alcides’, established his company D/S-A/S Eikland.
The company is structured into three activities: gas activities performed by Norgas Carriers AS that is involved in gas transportation, recovery and purging; China activities located in Shanghai, concentrated on LPG river transportation and a training center to train seafarers in handling dangerous cargoes; and Shutter tanker activities performed by Skaugen Petro Trans, Inc., providing crude oil transfer, primarily in the Gulf of Mexico.
The company’s principal customers are companies active within the oil and gas industry. I.M. Skaugen is operational through 13 subsidiaries worldwide, with activities in Oslo, Norway; Freeport and Houston, the United States; Nanjing, Wuhan and Shanghai, China; St. Petersburg, Russia; Singapore and Dubai, the United Arab Emirates.
In 2003, I.M. Skaugen joined forces with Teekay Shipping Corporation to jointly operate and expand its business allowing Teekay to take a 50 per cent stake. There two alliances have enabled I.M. Skaugen to enhance each of its business units into the number one position in the world, as well as strengthen its market leadership positions.
IMSK also forged an strategic alliance with Taizhou Wuzhou Shipbuilding Co Ltd and Shenghui Gas & Chemical Systems, both Chinese companies, which specializes in structured cryogenic steel tanks used in the marine and petrochemical industry.
I.M. Skaugen’s common stock is listed on the Oslo Stock Exchange where it trades under the symbol “IMSK”.
Business Summary
I.M. Skaugen ASA is a shipping company which engaged in the transportation of petrochemical gases and liquefied petroleum gas (LPG), as well as crude oil ship-to-ship transfer.
Description and history
I.M. Skaugen ASA is a shipping company which engaged in the transportation of petrochemical gases and liquefied petroleum gas (LPG), as well as crude oil ship-to-ship transfer.

I.M. Skaugen ASA is structured into three activities: gas activities performed by Norgas Carriers AS that is involved in gas transportation, recovery and purging; China activities located in Shanghai, concentrated on LPG river transportation and a training center to train seafarers in handling dangerous cargoes; Shutter tanker activities performed by Skaugen Petro Trans, Inc., providing crude oil transfer, primarily in the Gulf of Mexico.

The Company’s principal customers are companies active within the oil and gas industry. I.M. Skaugen is operational through 13 subsidiaries worldwide, with activities in Oslo, Norway; Freeport and Houston, the United States; Nanjing, Wuhan and Shanghai, China; St. Petersburg, Russia; Singapore and Dubai, the United Arab Emirates.

HISTORY
I.M.Skaugen AS was established in 1990 through the merger of KOSMOS Shipping AS and AS LABOREMUS. The company has been run as an integrated shipping company from 29 October 1990. However the business was listed on the Olso Stock Exchange as two separate entities throughout 1990. The merger took effect on 11 March 1991.


Foundation stone of I.M. Skaugen was laid, when Isak Martinius Skaugen, Captain of the four-masted barque ‘Alcides’, established his company D/S-A/S Eikland

Business Line
Transportation of petrochemical gases and liquefied petroleum gas (LPG), ship-to-ship transfer of crude oil and LNG, as well as the design and construction of smaller and specialized high quality marine vessels
Subsidiary
IMS MARINE SERVICES AS
Advisor
PRICEWATERHOUSECOOPERS AS
IPO date

US SIC Code
4449
Company Address
Karenslyst Alle 8b

City province or state postal code
0277, OSLO
Phone: +47 23 12 04 00
Fax: +47 23 12 04 01
Country address: NORWAY
Website url: www.skaugen.com