Jinhui Shipping and Transportation Limited terminats two agreements

Reference is made to an announcement by Jinhui Shipping and Transportation Limited dated
23 November 2007, where Jinchao Marine Inc. and Jinning Marine Inc., both are wholly-owned subsidiaries of the Company, entered into two shipbuilding contracts with China Shipbuilding & Offshore International (H.K.) Co., Ltd. and Dalian Shipbuilding Industry Co., Ltd. on 23 November 2007 for the acquisition of two Very Large Ore Carriers (VLOCs).