Rongsheng Heavy Hands Over VLOC VALE CAOFEIDIAN

China Rongsheng Heavy Industries Group Holdings Limited, the country’s largest private shipbuilder, announced today the delivery of its 380,000 DWT class Very Large Ore Carrier (VLOC) named “VALE CAOFEIDIAN” to Vale S.A. (Vale).

The vessel is the fourth 380,000 DWT class VLOC delivered by the Group this year and the Group’s eleventh delivery of VLOCs overall.

Year 2013 is expected to be the Group’s peak delivery period for its 380,000 DWT class VLOCs. The Group is accelerating the delivery progress of VLOCs and effectively executing its delivery plan. As of today, the Group has successfully delivered 11 VLOCs, while most of the remaining VLOCs have been launched and are under outfitting process. The next VLOC delivering to VALE is also at its final stage for sea trial. Within the 16 380,000 DWT class VLOCs orders secured by the Group, all the 4 VLOCs orders of Oman Shipping Company S.A.O.C. have already been delivered. Only 5 more 380,000 DWT class VLOCs are still pending for deliveries.

The 380,000 DWT class VLOC built by China Rongsheng measures 360 meters in length, 65 meters in breadth and 30.4 meters in depth, and is currently the world’s largest VLOC. The self-developed and high-tech vessel type represents the most advanced technology of VLOCs in the world. It adopts an environmentally friendly design focusing on lowering fuel consumption and reducing CO 2 emission, while its operating efficiency exceeds most existing ore carriers. With Energy Efficiency Design Index (EEDI) recorded at approximately 1.99 during sea trials, Rongsheng-built VLOCs are in line with low-carbon green product initiative and meets the benchmark requirements on emission reduction set by International Maritime Organization (IMO), which came into effect as of 1 January 2013.

In response to cyclical variation in the shipbuilding market, China Rongsheng Heavy Industries is implementing the “Transformation and Advancement” strategy. While upgrading its products by optimizing the efficiency performance and eco-friendly designs of the vessels, the Group is also developing high-tech and high value-added shipbuilding products in line with green concepts.

On the other hand, the Group is also striving to implement its transformation strategy in the offshore engineering market. Through the establishment of Rongsheng Offshore & Marine (RSOM) and leveraging the industry advantages and talent base in Singapore, the Group focuses on R&D, project management and marketing in the high-end offshore engineering business. China Rongsheng Heavy Industries will continue to seek breakthroughs in high-tech and high value-added seg ments including offshore engineering and LNG market.

[mappress]
Press Release, July 22, 2013