DSS Holdings Shipbuilding Contracts for 10 Vessels

DSS Holdings LP, the parent company of Diamond S Management LLC, announced subsidiaries of it have entered into shipbuilding contracts to purchase 10 ships. The contracts are with two prominent Korean shipyards for the construction of eight Suezmax tankers and two LR2 tankers. Delivery of the tankers is expected to occur in 2011 and 2012. DSS Holdings LP is a partnership formed in October 2007 between First Reserve Fund XII, L.P. and Craig Stevenson. The partnership was formed to create an energy focused shipping company.