SWS Berths Fully Occupied for the Next Few Years

On March 31, the Management Strategies Release Conference for the Second Quarter was held in Shanghai Waigaoqiao Shipbuilding Co., Ltd. (SWS). The top management and more than 200 management personnel attended the conference, with more than 30 relevant management personnel from Shanghai Shipyard attending the meeting as the nonvoting delegates.

In the First Quarter of 2013, SWS and SCS have delivered 4 vessels in total with the joint efforts of all staff and overcoming the influences of the Spring Festival and the bad weather. Simultaneously, SWS has gained a great achievement in receiving the new building orders, in which the amount of orders for bulk carrier ranks the top in China and the third in the world.

In January, SWS announced contracts for the construction of 6+2+2 sixth generation 180,000 dwt capesize bulk carriers with two EU shipping companies. Furthermore the shipyard revealed in March a contract for the construction of 3 plus 2 318.000 DWT very large crude carriers (VLCCs) for China Merchants Energy shipping (CNES).

By these orders, the berths of SWS will be fully occupied for the next few years.

[mappress]

Press Release, April 12, 2013