Two More Newbuildings' Contract of 53,000DWT Bulk Carrier Has Been Signed

（2007-03-06）

　　Two newbuildings' contract of 53,000DWT bulk carrier, undertaken by CSSC for COSCO, has been signed at Chengxi Shipyard Co., Ltd. on March 6, 2007. Mr. Lu Zuohan, vice general manager of bulk carrier company under COSCO, Mr. Lu Xihua, vice general manager of trading company under CSSC and Mr. Hu Jingen, general manager of Chengxi Shipyard Co., Ltd. under CSSC signed this contract on behalf of respective party.

Undertaking these two more newbuilding of 53,000DWT bulk carriers is the important measures for us to seize the marketing opportunity and promote our benefits, and also, it will be sure to promote the advantage of maintaining series new-building and shipbuilding technology.